AUD/CHF Forex Signal - 4 October 2016

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Today’s AUD/CHF signal

Risk 0.5%

Trade can be entered as late as 8 AM New York time, or afternoon London.

Trade 1 – short

• sell at 0.7440

• stop loss and 0.7520

• target 0.7380

Trade 2 – long

• buy at 0.7520

• stop loss and 0.7450

• target 0.77

• stop loss moved to break even at 40 pips profit

AUD/CHF analysis

The AUD/CHF pair is finding quite a bit of resistance in the form of a 0.75 handle, and as a result ended up forming a shooting star, one of the more bearish candlesticks that you can form. Write down below the bottom of the candlestick I believe that we will continue to consolidate and make a quick pullback. The Australian dollar is somewhat listless at the moment, while the Swiss franc remains fairly stable. Ultimately, this is a simple range play.

Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.