Main trade ideas on Forex for 04.09.2018

AUDUSD

RBA published Interest Rate Decision on the today Asian session. As experts had forecast, Rate stayed at the same level 1.5%. Due to this data rise almost to 50 pips. Therefore, the reversal pattern “double bottom” was finished. Moreover, just yet pair have broken the pattern’s neckline. If the Cayman Indicator can gain a foothold under the overbought zone; USDCHF can make a strong bullish correction. In addition, there are some candlestick bullish patterns: “bullish engulfing” on the 4-Hour chart and “morning star” doji on the Daily chart.

All the signs indicate oncoming growth AUDUSD. Therefore, we will buy at current levels with Stop loss at 0.7190 and Take Profit at 0.7350.

USDCHF

Also, we have bullish candlestick sign in USDCHF. We can see the legible “rising star” pattern on the Daily chart. We have two conditions for buying USDCHF due to this signal:
– The Cayman Indicator have to leave the overbought zone
– USDCHF pair have to break 38.2% Fibo at 0.9735
After that, we will buy USDCHF with the target at 0.9850.

So, Our targets for:
AUDUSD – 0.7350
USDCHF – 0.9850