Outside Bar on AUD/CHF

Outside Bar on AUD/CHF

This week, the AUD/CHF currency pair kept the "mirror" resistance level of 0.67850, which caused the bearish sentiment. The current technical pattern signals a further fall in quotes. A classic pattern of Price Action, Outside Bar, (H4 timeframe), has been formed in the trading instrument, which currently acts as a formation of the current trend continuation. At the moment, the trading instrument is consolidating near the round level of 0.67000. We recommend paying attention to this situation.

If the price fixes below 0.67000, AUD/CHF sales should be considered. The immediate goal for profit taking is 0.66550. The movement is tending to 0.66000-0.65600. Confirmations and market entry points should be looked for on lower timeframes. When tracking positions, we recommend using a trailing stop.

by JustMarkets 2019.10.16

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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