The Aussie dollar continues to slump against the Swiss Franc intraday after sellers have successfully sweeping April 19’s sell side liquidity levels.

As a result, my July 24’s long trade plan has exited in another loss after holding for 13 hours:

https://www.finlogix.com/analysis/20240724/audchf-intraday-analysis-and-trading-plan-for-july-24-2024

A new overall record of 1 win and 2 losses.

There are no high impact economic reports both in Australia and Switzerland this week.

Re-assessing AUDCHF’s high timeframe candles:

Yearly Candle: Last check is a Green Long Upper Shadow now a Green Long-Legged Doji

Monthly Candle: Still a Red Body with a Longer Head Wick since last check

Weekly Candle: Still a Red Body with a Longer Head Wick since last check

Daily Candle: Both previous close and current are Red Bodies

In today’s analysis, I’m still referencing the complete downward move from May 20 to June 18 swing high to low move as the retracement points of view.

From these points of view, sell side liquidity runs carry on entering oversold levels.

In light of the more selling pressures seen this week, AUDCHF is already fast approaching towards a great buy zone area dating back to February lows this year.

For now bulls need to stop the price from bleeding further.

It was a good protective stop loss triggered in yesterday’s long attempt preventing serious losses.

In today’s trade plan, I’m going to long AUDCHF with a 1 to 3 risk:reward ratio as it enters the buy zone mentioned.

Let’s give the bears this week and see a comeback hopefully next trading week.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

I’m not expecting much recovery this week as the sellers are already in full control but I still like to trade in before the actual price reversal.

All trade ideas I share are my own views and for my own trades only.

AUDCHF Intraday Analysis and Trading Plan For July 25, 2024

Jul 25 2024

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