Like the infamous game, the AUD CHF is giving us 3 choices for what it could be setting up to do.
1ST CHOICE- SIDEWAYS, THEN BULLISH BREAKOUT
The pair had formed and broken out of a large Pennant before pulling back to test the Resistance. It has started to U-turn and looks as if it could be getting ready to resume the breakout. However, it could resume the breakout after moving sideways in a smaller range before breaking long.
DAILY CHART
The other possibility is that the bullish signal appearing at the end of trading today is the signal to indicate the start of the breakout is now.
2nd CHOICE- BULLISH BREAKOUT NOW
DAILY CHART
If this is the right choice, then entry now or during the trading session on Monday would be optimal to capturing several hundred pips.
3RD CHOICE- FALSE BREAKOUT
The last possibility is that the bullish signs we are seeing are short-lived and a bearish reversal takes place next week. This would carry the pair down to Support once more at 0.7835.
DAILY CHART
Let´s see what happens.
1ST CHOICE- SIDEWAYS, THEN BULLISH BREAKOUT
The pair had formed and broken out of a large Pennant before pulling back to test the Resistance. It has started to U-turn and looks as if it could be getting ready to resume the breakout. However, it could resume the breakout after moving sideways in a smaller range before breaking long.
DAILY CHART
The other possibility is that the bullish signal appearing at the end of trading today is the signal to indicate the start of the breakout is now.
2nd CHOICE- BULLISH BREAKOUT NOW
DAILY CHART
If this is the right choice, then entry now or during the trading session on Monday would be optimal to capturing several hundred pips.
3RD CHOICE- FALSE BREAKOUT
The last possibility is that the bullish signs we are seeing are short-lived and a bearish reversal takes place next week. This would carry the pair down to Support once more at 0.7835.
DAILY CHART
Let´s see what happens.
