USDCHF & AUDUSD Market Commentary – 5-3-2020

Hello everyone! This post is covering the USDCHF and AUDUSD with the Professor Setup and Pure Price Action Technical Analysis

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  • AUDUSD H1 Timeframe
  • Expecting an initial long correction on the H1 timeframe, then new defined range with buy and sell zone and breakout opportunities.
  • USDCHF H4 Timeframe
  • Will we see continuation, consolidation within the defined range, or change in trend direction? Only time will tell.
  • Potential targets for both long and short, 1:1 and better.
  • If price doesn’t break the range, look for opportunities on lower timeframes to gain within the defined range.
  • AUDUSD H4 Timeframe
  • Expecting an initial correction to the upside, but if breaks the 0.656855 then expect long continuation. (We are on the 3rd leg of the D1…however Friday did end with price just below the previous high…so we may be in a new defined zone).
  • If price breaks the 0.640877 on the 4H, then we can expect 0.63630 as our next TP for a short.
  • AUDUSD D1 Timeframe
  • On the daily timeframe, we see that price is in a long trend overall
  • Sell Zone: 0.655208
  • Buy Zone: 0.638238
  • Breakouts of either zone lead to creation of new zone…we will see if continuation or reversal are on the way 🙂
  • Short Entry: 0.638238 – Target Range: 0.632648 – 0.626658
  • Long Entry: 0.655208 – Target Range: 0.660099 – 0.66549

Cheers to another successful week!

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