AUDCHF: Buy Opportunity

We don't have a sell opportunity in this market, but if the price breaks the resistance zone formed by SMA50, the downtrend line, and 0.66500 level, why not to buy?

The breakout above the resistance zone will give us the 1st bullish signal. We can use it to open long positions with stop orders below 0.66150 and profit targets at 0.67000 and SMA200.

The breakout above the resistance zone will give us buy opportunity, which will be in the direction of bullish signals from the daily timeframe. It is not the perfect buy signal as we don't have solid bullish signals in the 4h chart. If you don't want to take additional risk, it will be better to skip this trade or just use the less trade volume for this market.



Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.