EUR/CHF looks ill
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
AUD/JPY is at resistance
Trade ideas
SELL 72.40; TP1 72.28; TP2 71.95; SL 72.55
BUY 72.85; TP 73.30; SL 72.70
AUD/JPY has reached the resistance line which is going down from September highs. The 100-period MA on the H4 chart is about to get below the 200-period one. Both lines limit the price action on the upside, around 72.70. The pattern on the H1 looks like “Spike and Ledge”: the break of the ledge’s lower border at 72.40 will bring the price down to 72.28 and 71.95. The switch to buying will be possible at 72/85, above the resistance line and the recent high. In this case, the target will be at 73.30 (previous resistance area).
Elizabeth Belugina
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EUR/CHF looks ill
This week EUR/CHF broke below the 100- and 50-day MAs at 1.0966 and 1.0954 respectively.
EUR/USD is under pressure
After EUR/USD broke the 1.1180/1.1070 range to the downside, it has been trading within the short-term downtrend.
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