By: Dima Chernovolov

AUD/CHF continues to rise after the earlier breakout of the Clear Triangle chart pattern which was previously identified by Autochartist on the 4-hour charts. Autochartist rates the Quality of this Triangle at the 5 bar level – which is the result of the slow Initial Trend and Uniformity (both rated at the 3 bar level) and maximum Clarity (10 bars). AUD/CHF is expected to rise toward the forecast price 0.7453 – continuing the earlier sharp upward reversal from the powerful support zone described below.

10052017dailyfximage1

As can be seen from the daily AUD/CHF chart below, the bottom of this Triangle formed when the pair reversed up from the strong support zone lying between the long-term support level 0.7280 (has been steadily reversing the price from last August) and the lower daily Bollinger Band. The proximity of this support area increases the probability AUD/CHF will continue to rise toward forecast price 0.7453.

10052017dailyfximage2

To subscribe to the e-mail alerts feature is quick and easy. Log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report, and you’re done! You will now receive a quick morning technical outlook of the markets.

 

For further information on this and other Autochartist products visit www.autochartist.com

1 Likes
365 Views

You may also like

Leave A Comment

Please enter your name. Please enter an valid email address. Please enter message.

Sign-up






* = Required Field