AUDCHF - H4 Chart Analysis
View on AUDCHF H4 Chart (08-05-2020)
Firstly, we can see an Aescending channel ( Daily Chart ) since 19-03-2019.
And then we can see there a resistance level (Blue Line) and supply zone.
Price was already created a bearish reversal candle (Bearish Engulfing).
According to the chart pattern analysis, we can see ABCD Pattern.
So, Price may befall to TP2 or TP3.
Tp 2 is a nice place because it is a lower channel line of the ascending channel.
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you.
Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
I don't accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Firstly, we can see an Aescending channel ( Daily Chart ) since 19-03-2019.
And then we can see there a resistance level (Blue Line) and supply zone.
Price was already created a bearish reversal candle (Bearish Engulfing).
According to the chart pattern analysis, we can see ABCD Pattern.
So, Price may befall to TP2 or TP3.
Tp 2 is a nice place because it is a lower channel line of the ascending channel.
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries a high level of risk, and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you.
Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor.
DISCLAIMER:
Any opinions, news, research, analyses, prices or other information discussed in this presentation or linked to from this presentation are provided as general market commentary and do not constitute investment advice.
I don't accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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