- February 8, 2021
- Posted by: cabana-admin
- Category: Forex Broker
General overview: The AUDCHF pair start rising from the starting of this month, breaking under 0.6761, it accelerated upside momentum. The pair creates buy signals in the chart. The pair testing the major key resistance level in the market. The market travels upside side in the market. The bulls are forcing the market towards the positive side in the market. The pair makes a clear path towards the buy-side in the market. The market travels towards buy position in the market. The pair creating the bullish candlestick in the pair 0.6905 and the pair creates upside momentum in the market. The pair makes the bullish candlestick on a daily chart pattern. The buy-side can be formed on the positive side in the market. Strong bullish volatility pattern formed on the chart.
Technical Analysis: From the technical point of view we can say that market takes its strong faces towards the buy-side in the market. We can say market sets towards buy-side in the market bulls the forcing the market towards the upper side in the market. Bulls are creating strong bullish signals in the market as the market formed strong volatility towards the market. The positive momentum in the market forces traders to sit towards the buy-side in the market. On the 4 hourly charts market creates a bullish pathway in the market. the pair also making an upside strong trend line in the market which creates bullish signals in the market. As the minor EMA lines are rising faster than SMA lines in the market and create buy signals. The indicator also creates the same situation as like price pattern RSI also travels above 50 levels as it creates buy signals in the market as well as MACD will also move above the zero lines creates buy signals. The support of the market is 0.6850 followed by 0.6800 and resistance is 0.6950 followed by 0.7000.
Trade idea: Traders and investors are advised to go for buy at level 0.6903 target will be 0.6963-0.7003 and stop loss will be 0.6822.
Disclaimer: This is to be considered a marketing communication only, this does not contain, and should not be construed as containing, investment advice or an investment recommendation or investment research or, a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instruments. Past performance is not a guarantee of or prediction of future performance. Cabana Capitals does not take into account your personal investment objectives or financial situation. Cabana Capitals makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of Cabana Capitals, a third party or otherwise. Consequently, any person acting on it does so entirely at their own risk. This material has not been prepared in accordance with legal requirements promoting the independence of investment research and it is not subject to any prohibition on dealing ahead of the dissemination of investment research. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Cabana Capitals. This communication must not be reproduced or further distributed without prior permission.