AUDCHF H4 | Potential bearish reaction off swing-highAUD/CHF is rising towards a recent swing-high resistance and could potentially reverse off this level to drop lower.
Sell entry is at 0.58378 which is a swing-high resistance that aligns close to the 161.8% Fibonacci extension level (wait for 1-hour candle to close for entry confirmation).
Stop loss is at 0.58750 which is a level that sits 15 pips above a swing-high resistance.
Take profit is at 0.57951 which is a pullback support level.
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Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you.
Stratos Markets Limited (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Europe Ltd, previously FXCM EU Ltd (www.fxcm.com):
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Stratos Trading Pty. Limited (www.fxcm.com):
Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com
Stratos Global LLC (www.fxcm.com):
Losses can exceed deposits.
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