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01 August 2007

AUDCHF Bullish Divergent Bar Setup

AUDCHF Bullish Divergent Bar Setup


Like EURAUD, 4 hours chart of AUDCHF formed also a Divergent Bar setup - a Bullish one.

We have again something near to Double bottoms but here we have a clear divergence between price and Momentum.
Acceleration, compared to previous move, was weaker.

Divergent Bar break up was strong and fast and if 1.0250 level is taken we could expect testing the 1.0370 level next.

Anyway, keep stops tights for this move is against main trend and easily could be transformed in a retracement...

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