AUDCHF a selling opportunity (04/04/2019) 11:48

AUDCHF a selling opportunity (04/04/2019) 11:48

On April 4, 2019, Posted by , In Uncategorized, By , , With No Comments

AUDCHF.DMAH1-1.png AUDCHF.DMAH4-0.png

A selling opportunity has prevailed on the AUDCHF, The market has made it to our resistance trend line where it has been getting rejected. We are forecasting a drop in price from the current price of 0.7095. The market has been making a series of descending highs and lows, thus indicating that it is the Bears who are in control. This has shaped our stance on the currency pair. We are of the belief that the price is yet to drop lower. On the H4 chart, the market has formed a series of bearish reversal candles. On the H1 chart the market is forming a MACD divergence signal which acts a signal that the Bullish momentum is coming to an end. All this is pointing to a possible drop in price.  Place a sell at price 0.7100 with a stop loss at 0.71653 and a TP at 0.6879

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