The Australian Dollar Swiss Franc.
Good afternoon Dynamic Traders,
Todays chart is of the AUDCHF on the daily timeframe.
As can be seen from the chart below price action today has broken the recent high resistance area but has not closed above yet as todays bar is still in progress, which did also tag the '00' figure.
This is looking bullish with the MACD signal lines crossing up and GetStochastics having the false bars to the upside.
However looking at the higher timeframe chart, price has been hanging around the V.I. of late although it is standing above it on this weeks bar with strength in the move.
The daily chart does have all trends up and with this being your friend a possible long opportunity is on the cards and so you just need to plan your entry, but whilst doing this take into account the fibonacci extension, figure area and divergence on the MACD, and should the reversal happen trade accordingly.
As always please ensure to do your own analysis before taking any trades.
I am possibly not going to be able to update tomorrow due to an appointment which I have and with Friday being NFP I will not be taking any new positions and so if there is no posting tomorrow the next update will be next week, and so all have a great weekend.
Charts courtesy of AdvancedGet.