I am longing AUDCHF on the basis of:
-Market has broken out of the bearish trend and is seeing to make new higher highs.
-EMA 31 is now on top of EMA 50 on 1hr TF and are close together on the 2hr TF to confirm the change of the trend.
-Is currently on support of the lower low and has is currently sitting above it nicely with a few wicks to shown buying pressure.
-Has also hit a trend line at the same spot to confirm the support.
-Bullish Momentum created.
ENTRY: 0.6750
SL: 0.6735
TP: 0.6815
-Market has broken out of the bearish trend and is seeing to make new higher highs.
-EMA 31 is now on top of EMA 50 on 1hr TF and are close together on the 2hr TF to confirm the change of the trend.
-Is currently on support of the lower low and has is currently sitting above it nicely with a few wicks to shown buying pressure.
-Has also hit a trend line at the same spot to confirm the support.
-Bullish Momentum created.
ENTRY: 0.6750
SL: 0.6735
TP: 0.6815