Aud/Chf – Good Opportunity To Buy|Influencer Forex Analysis•Jasper Njuguna

The Market structure has been trading between and respecting the descending trading channel and market participants are just looking either buying or selling at the touch, bounce or rejection of this trendlines.

This week trend view is bullish as price action hit and bounced back up from the lower trendline and price handle level 0.64 is a previous strong demand block as attest to strong bullish momentum that that played out during the trading session month of May. In addition, technical confluence is agree with our sentiment as price action found dynamic support at the 200 day moving average and a piercing dragon fly doji candlestick closing at top of the moving average.

Daily Chart ;

The 2 hour chart below offers a good trade idea and setup as bullish speculators can wait for a retest of yesterday high range if looking for ideal risk : reward ratio.

Of course, ones discretion and risk management is advised.

2 Hour chart ;

Jasper Njuguna is a self-taught discretionary financial markets trader. With cumulative 5 years experience trading the markets and out of which, one and a half years of that as a prop trader, trading large and mid-cap American equities at one of the DAY TRADE THE WORLD offices.

Prior to switching career interest to trading, I have 9 years of experience in senior management roles driving small to large business development and B2B relations in creating and implementing; learning & development solutions, programs, organizational strategies & frameworks, and blended learning approaches for companies and institutions in Africa.