Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

AUD/CHF: buy target - 0.7600

  • AUD/CHF rises inside minor C-wave
  • Next buy target - 0.7600

AUD/CHF recently reversed up from the support zone lying between the the support level 0.7200 (which was set as the sell target in our previous report for this currency pair), the lower daily Bollinger Band and the 50% Fibonacci Correction of the previous sharp corrective A-wave from January (belonging to the intermediate ABC correction (2)). The upward reversal from this support zone stopped the previous B-wave with the strong Japanese candlesticks reversal pattern – Double-Doji Morning Star (highlighted below).

AUD/CHF is likely to continue to rise in the active C-wave toward the next buy target 0.7600. Buy stop-loss can be placed below the support level 0.7400.


Scroll to top