Friday, February 21, 2014

Audchf bullish outlook

The long bearish trend of this market, which we see, has entered into a range between 0,8170 and 0.7725.

The latest counter trend bullish move from 0.7725 was rejected  at 0.8170 with a pin bar, and price has since continued the bearish move and it's percieved to halt by a pin bar at 0.7960 ( which is a strong level considering the number of times it has been broken and retested )

This pair could continue its counter-trend bullish move toward 0.8170 and this scenerio becomes invalid if price, today or tomorrow, breaks the pin bar downside with a great deal of momentum

At the moment, there is a bullish bias in the nearest term

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