Long Term Analysis
USD.CHF, Daily
General Overview- The Pair is getting close to the 200 day moving average at 1.047 which posses a strong support. Since we see the major long term trend we see a good potential of the pair to resume the major bullish trend at that area.
Trading Advice- Place your stop loss under 1.04-1.045 and ride the bullish trend to 1.089.
We recommend opening with a leverage of no more than X50.
AUD.JPY, Daily
General Overview- Although the pair is still not in a bearish trend the current price structure suggests a bearish move is gradually forming.
Trading Advice- The current risk reward ratio is rather high, wait for the pair to reach to the 84 area to open your trade. Place your stop loss at 87 above the 86 major resistance, as the pair is slightly volatile and could surpass the 86 level slightly before retreating. Ride the bearish trend to 78.We recommend opening with a leverage of no more than X25.
Special Attention! – A weekly close below 76 would move our long term target to 72
Daily Forex Market Analysis provided by eToro
Disclaimer: Trading in the Foreign Exchange market might carry potential rewards, but also potential risks. You must be aware of the risks and are willing to accept them in order to trade in the foreign exchange market. Don’t trade with money you can’t afford to lose.
