- July 29, 2021
- Posted by: cabana-admin
- Category: Market Insights
GENERAL OVERVIEW: AUD/CHF is trading at 0.6704; the instrument is moving below Ichimoku Cloud, thus indicating a downside tendency. The markets could indicate that the price may test the cloud’s downside border at 0.6704 and then resume moving downside side. The market makes the lose volatility in the market; the pair stands towards the downside side and creates the bearish side in the market. The pair moves towards the bearish momentum in the market .we can see pair rise continually towards the lower side in the market.Another signal in favor of a further downside trend will be a rebound from the support level. However, the bearish scenario may no longer be valid if the price below above till level 0.6704. The pair makes the bearish signals in the market; the traders can make potential view towards the sell side in the market.
Technical Analysis: From the technical point of view we can say that market makes the downside in the market , the market makes the swings towards the lower side in the market, the market find its resistance level at 0.6766 level , we can expect further more fall in the market, the traders can take their negative towards the sell side in the market , the odds are also in favors of the sell side in market , the potential 50 and 200 sma ,ema lines are also providing their support to fall the pairs , so this way we can analysis that bears side are in continuation towards the market, as the traders need to maintain their stop loss in the trade, The RSI also rise below the 50 level as well as MACD also creates also falls above zero level .
Trade idea: our sellers will sit on the sell side at level 0.6707 target till be 0.6650 -0.6600 stop loss will be 0.6760.