AUD/CHF Bullish Head and Shoulders Might Lead the Pair to W H4 Resistance

Dear Traders,

The AUD/CHF has formed a bullish SHS pattern  and it looks like momentum is strongly bullish.

0.7100 zone might provide a bounce if 0.7080 holds. We can easily see an inverted SHS pattern at the support, exactly at W L4 coupled with an ascending trendline. T-89 pattern suggests bullish continuation towards 0.7130 and 0.7145-53. Only if the pair breaks below 0.7075 we might see a deeper pullback into the neutral territory. So far, intra day charts are bought on dips, so look for a continuation of the bullish move.

The analysis has been done with the CAMMACD.MTF template.

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Many green pips,
Nenad Kerkez aka Tarantula FX
Elite CurrenSea

Published by

Nenad Kerkez

Nenad Kerkez is an analyst and trader who has been in the market since 2008 and works closely with Admiral Markets as their Senior Lecturer and Market Analyst. Nenad covers over 25 currencies on an intraday basis and has a Masters in economics. He also developed CAMMACD TM, a proprietary trading and analysis strategy wit ever powerful pre fact setups that you can read every day. Nenad is also a valuable presenter on various FX EXPO shows, where he always presents new and interesting ways how to trade price action and protect your own investments. Further, he is the co-founder and head of Elite Currensea Trading, an educational website for currency traders.