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FX.co ★ Forgotten crosses in profit: AUD/CHF

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Forex Analysis:::2019-09-04T11:34:49

Forgotten crosses in profit: AUD/CHF

Good afternoon, dear traders. I remind you that there will be news this week and the main news of the week on "US unemployment" will be announced on Friday. As practice shows, all pairs tied with the US dollar will behave relatively calm. I try not to trade in front of strong news, with the exception of holding medium-term positions to a greater extent on cross rates. This week I voiced trading ideas on AUD/CAD and NZD/CHF pairs. There are two more crosses on my trades, and one of them is the AUDCHF pair, which has already grown quite well. But in the case of corrections, it can be selected in longs with a potential of up to 100p (4 characters).

I note that most of the tools that CHF includes are go quite noisy and low volatility. As you know, most traders trade EURUSD but the euro does not forgive mistakes, unlike the "stabilizing" franc. Even to the dollar, this pair has short moves and over the past 5-6 years does not go out of the range of 700-800p, and after passing every 500 it has quite significant kickbacks. In fact, this can be used very well but more about that will be on another time.

Forgotten crosses in profit: AUD/CHF

Thus, the AUD/CHF pair, which is a favorite of net sellers through a magnificent false breakdown of 0.65, has every chance of growing at least to the nearest resistance with a mirror level of 0.6750. I have been holding it in longs since the beginning of August and I am building up a long position with a take on breakdown of 0.0650 during rollbacks. From current prices, the profit will be 70p and if it rolls back a little, then 100+p cross-profit will be yours.

Wish you success in trading and control risks. See you in the evening on the gold trading idea.

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