AUDCHF Hits Targets
EUR In Focus
Thurs 29th June 2023 : Daily Currency Strength Analysis
Today we’re looking at Trading Setups in:
- EURAUD (Primary Focus Pair)
- AUDCHF (Covered In Video)
- EURNZD (Covered In Video)
- EURJPY (Covered In Video)
Primary Focus Pair: Trade Plan & Details
| EURAUD Long | Price | Pips +/- | R/R (Max/Min) |
|---|---|---|---|
| Entry Price | 1.6460 | ||
| Stop Loss (Min) | |||
| Stop Loss (Max) | 1.6330 | -130 Pips | |
| Profit 1 | 1.6740 | +280 Pips | 1: 2.15 |
| Profit 2 |
Details:
AUDCHF was featured on our blog post on Monday 26th June for a short, which has now hit targets.
AUDCHF remains on the tables and could trade lower, however we need to see price return back to previous resistance.
Our attention now turns to EUR, as it remains the only currency on the strength side of the tables with a confluence between the higher and lower time frames.
EURAUD was featured yesterday for a long idea, but we have now adjusted our trade plan to suit the current market conditions.
Price has found a base support on the hourly time frame around 1.6460 which holds confluence with the 50 moving average.
If price can pullback and retest this base support we could look for long ideas to target the key resistance level of 1.6750.
Technical Observations:
- AUD is W2 and EUR is S3 on our day traders tables.
- Price is in a bullish trend but at resistance of 1.6500.
- If price pulls back from here it could retest base support on the hourly chart at 1.6460.
- Buyers could look to enter long from here.
Todays 9am (BST) Forex Strength Vs Weakness Tables:
