The next week I will not publish Price Action analysis – due to my summer holidays. For today we have three currency pairs: EUR/AUD, GBP/CHF and USD/CHF
EUR/AUD
Currency pair formed huge Inside Bar pattern and we still wait for breakout. The breaking above pattern height would be the less profitable, because the nearest resistance is quite near. The best scenario for now is a fakey breakout to the supply side –in such case we will be able to open long position following broader trend.
GBP/CHF
Cross pair formed a quite interesting purchase opportunity – despite the one I was describing yesterday. We can see a long pin bar candle which rebounds from support. If I could not have my previous position I will put long order here (at 50% retracement of pin bar candle with SL below).
USD/CHF
Second pair with Swiss franc in today’s analysis – also with purchase signal. USD/CHF broke above Inside Bar pattern – we may consider this position with entering at 50% retracement of breakout candle. However, we need to remember to not over position at one currency. If you have opened a trade on GBP/CHF you should just observe the situation at USD/CHF.
