The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
Has the downtrend of AUD/CHF ended?
Information is not investment advice
On the daily chart of AUD/CHF, the pair reached the first crucial support at 0.6880. RSI and Stochastic Oscillator are in the oversold area. Awesome Oscillator formed a bullish divergence with the chart. As a result, we can anticipate a soon recovery of the pair. If bears are able to pull the pair down. The next important support will lie at 0.6830.
However, the odds of the rebound from 0.6880 are high. In the middle term, the main target for the pair is located at 0.7018. Nevertheless, before the pair reaches that level, we may see a correction near 0.6981 with a possible retest of 0.6880. To be sure in the trend reversal, it’s worth waiting until the pair breaks above the trendline near 0.6917.
Fundamental factors: on Thursday, investors will pay attention to the Australian jobs data. If the actual releases are more optimistic than forecasts, the AUD will be encouraged. In the case of the worse readings, the currency may suffer that will affect the direction of the pair. However, if the reversal of the trend is confirmed, the pair will recover.
AUD/JPY finds itself at the crossroads of several trends - we will use various time frames to foresee the possible scenarios.
EUR/AUD has been in consolidation lately; are there any clear bullish signs or it is better to hold positions?
On the W1, Brent oil formed a bullish “hammer”…
In times of political and economic uncertainties, analysts recommend investing in safe-haven assets. However, since recently, the USD with the weak American economic data and the easing monetary policy has been losing its status. What about the JPY and XAU? The situation is unclear.
USD/CHF formed a “hammer” candlestick on the D1. The most recent price low wasn’t confirmed by the Awesome Oscillator on this timeframe.