SWISS RISES AGAINST THE AUSSIE!

Tendency: Downtrend ( Bearish )
Structure: Descending Channel
Observation: i. Connecting the lower highs and lower lows of price action with parallel trendlines depicts and confirms our Descending channel illustrated on chart.
ii. Price flows within the boundary of the channel leading to break of major Support at the 0.68500 level and making this level our new Resistance.
iii. We shall be looking at a continuation of this pattern as price rejects 0.68500 level and at the same time respecting the Channel one more time.
iv. Price below our Moving Averages.
Trading plan: SELL possibility with minimum potential profit @ 450pips in total.
Risk/Reward: 1/3
Potential Duration: 5 to 12 days

Watch this space or Telegram channel for updates on lower time frames as price action is been monitored.


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