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AUD/CHF Shoulder Head Shoulder Formation For Bearish Pattern

By:
Nenad Kerkez
Published: Nov 25, 2021, 10:47 UTC

The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish.

AUD/CHF Shoulder Head Shoulder Formation For Bearish Pattern

In this article:

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AUD/CHF Technical Analysis

  • Bears are still in control
  • Bearish SHS pattern
  • Trend line break
  • Move down is imminent

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  1. Left shoulder
  2. Head
  3. Right shoulder
  4. Trend line break & Pinbar
  5. Target

The AUD/CHF is still bearish. Predominant trend in the AUD is bearish. Technical and Fundamentals are aligned as RBA last statement was bearish. The CHF is getting stronger and if CHF/JPY gets higher (which it should concerning that we have a pinbar on daily) then the AUD/CHF drop will be even more exaggerated. Momentum is bearish and a close below 0.6690 should add more sellers in the equation. We can also spot bearish shoulder head shoulder formation which adds to the confluence. The target is M L5 0.6626.

For a look at all of today’s economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

 

About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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