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RudiMarin

AUDCHF rejected at resistance trendline. Short Favoured.

Short
Australian Dollar / Swiss Franc (FX_IDC:AUDCHF)  
RudiMarin Updated   
FX_IDC:AUDCHF   Australian Dollar / Swiss Franc
Trend Analysis Chart Patterns Technical Indicators AUDCHF
4
0
trendanalysis chartpattern indicator audchf
AUDCH is in a long term downtrend and put a serious reversal weekly candle last week when backtesting its broken rising wedge. Such rejection in a downtrend should lead to further downside. Short favoured.
Comment:
A closer look at the weekly reversal

snapshot
Comment:
4H chart: A short at 0.752 would offer a 1 to 2 Risk-Reward to target 0.73 with a stop above previous high.

snapshot
Trade closed: stop reached:
Stop was hit during the week, Price reentered the rising wedge in a powerful move. Looking to buy the dip now on..

snapshot
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