CAD/CHF 1H Chart: Two scenarios likelyDownside risks has been dominated the CAD/CHF currency pair since the rate reversed from the upper boundary of a long-term descending channel at 0.7710.
The pair managed to reverse to the upside from the Fibonacci 50.00% at 0.7565. Currently, the exchange rate is trying to surpass the resistance cluster formed by a combination of the 55-, 100-, 200-hour SMAs, as well the weekly PP and the Fibonacci 61.80% in the 0.7601/0.7640 range. If given resistance holds, the pair go downside to the support cluster formed by the weekly S2, the monthly PP and the Fibonacci 38.20% in the 0.7487/0.7506 range.
Otherwise, the pair could re-test the upper channel line located near 0.7690.
Cad-chf
AUDJPY Approaching Resistance, Potential ReversalAUDJPY is approaching its resistance at 82.31 (100% Fibonacci extension , 38.2% & 61.8% Fibonacci retracement , horizontal swing high resistance) where it could potentially reverse down to its support at 81.36 (23.6% Fibonacci retracement , horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 98% where a corresponding reversal could occur.
CADCHF - SWING SETUP - 07. NOVEMBER 2018WELCOME TO DACAPITAL TRADING!!
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1 HOUR
Consideration above previous H1/H4 Lows and Support level!
4 HOUR
Expecting a strong bullish reaction to this level now.
DAILY
Daily pullback to previous lows and support level!
LEVELS
BUY CADCHF @ 0.76380
SL @ 0.76170 (20 Pips)
TP @ 0.76970 (60 Pips)
RR: 2.81
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CADCHF - SWING SETUP - 26. OCTOBER 2018WELCOME TO DACAPITAL TRADING!!
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4 HOUR
H4 Formed new Highs around 0.76900 and retested our Daily key level
DAILY
Consideration zone, expecting a push to the downside and a break of this zone towards daily key level
WEEKLY
Very sideways last 4 weeks, we need a breakout now!
LEVELS
SELL CADCHF @ 0.76280
SL @ 0.76700 (40 Pips)
TP @ 0.75400 (90 Pips)
RR: 2.12
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Dow Jones might have completed an impulse at 24533 !!To continue the story from yesterday, Dow Jones Industrial Average dropped lower as a probability discussed, towards 24530 levels. Looking into the wave structure now, a potential impulse wave labelled as waves i through v, seems to be complete. Please note that the underlying instrument has unfolded its last wave into an ending diagonal . A push above 25307 from here would confirm that a meaningful bottom is in place for now at 24530 levels. Please note that a probable 3 wave corrective rally could begin any moment towards 26000 levels any moment now.
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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
NZDJPY Approaching Support, Potential Bounce. NZDJPY is approaching its support at 72.40 (61.8% Fibonacci extension, 78.6% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 74.22 (61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 2.3% where a corresponding bounce could occur.
NZDUSD Testing Support, Potential Bounce.NZDUSD is testing its support at 0.6491 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where it could potentially bounce to its resistance at 0.6541 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching its support at 2.1% where a corresponding bounce could occur.
CADCHF Buy The Canadian Dollar is having its best day since September 28 (when it became clear Canada would join the United States and Mexico in the USMCA) after the Bank of Canada not only raised rates by 25-bps – a move that was widely expected, with overnight index swaps pricing in a 92% chance ahead of the meeting today – but offered its clearest signal yet that it was considering embarking on a more aggressive rate hike cycle as the calendar flips to 2019.
CAD should run bullish for another 30-50 pips today but we just want to grab 15 pips. Trade with CAUTION
Entry: When price closes above 0.76651
TP: 0.76811
SL: 0.76394
XAUUSD Testing Resistance, Potential ReversalXAUUSD is testing its resistance at 1236.82 (61.80% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 1215.95 (61.80% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support). Stochastic (55, 5, 3) is approaching its resistance at 95% and there may be bearish divergence where a corresponding reversal could occur.
NZDJPY Bounced Off Support, Potential RiseNZDJPY bounced nicely off its support at 72.76 (100% Fibonacci extension, 76.4% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 73.35 (100% Fibonacci extension , 38.2% Fibonacci retracement, horizontal overlap resistance). Stochastic (89, 5, 3) is bounced off its support at 4.4% and there may be bullish divergence where a corresponding bounce could occur.
AUDNZD Testing Resistance, Potential ReversalAUDNZD is testing its resistance at 1.0823 (61.8% Fibonacci extension, 23.6% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse to its support at 1.0781 (100% Fibonacci extension, horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
GBPAUD Approaching Support, Potential BounceGBPAUD is approaching its support at 1.8259 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal pullback support) where it could potentially bounce to its resistance at 1.8405 (100% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance). Stochastic (89, 5, 3) is approaching its support at 4% where a corresponding bounce could occur.
AUDJPY Testing Support, Potential Bounce AUDJPY is testing its support at 79.50 (61.8% Fibonacci extension , 76.4% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 80.44 (38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (21, 5, 3) is approaching its support at 5.3% where a corresponding bounce could occur.
AUDUSD Approaching Support, Potential BounceAUDUSD is approaching its support at 0.7088 (100% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing low support) where it could potentially bounce to its resistance at 0.7144 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap resistance) Stochastic (21, 5, 3) is approaching its support at 8.0% where a corresponding bounce could occur.
NZDJPY Approaching Support, Potential BounceNZDJPY is approaching its support at 73.435 (61.8% & 100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal overlap support) where it could potentially bounce to its resistance at 73.770 (50% Fibonacci retracement , horizontal swing high resistance). Stochastic (55, 5, 3) is approaching its support at 4.3% where a corresponding bounce could occur.
CADCHF - SWING SETUP - 16. OCTOBER 2018WELCOME TO DACAPITAL TRADING!!
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4 HOUR
Strong bullish movement back towards daily and H4 Resistance Level
DAILY
Strong daily price action taking out sellers in my view!
WEEKLY
Strong start into this week, looking towards a bearish closure on friday!
LEVELS
SELL CADCHF @ 0.76500
SL @ 0.76860 (35 Pips)
TP @ 0.75540 (95 Pips)
RR: 2.70
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EURGBP Approaching Resistance, Potential ReversalEURGBP is approaching its resistance at 0.8854 (61.8% Fibonacci extension , 50% & 38.2% Fibonacci retracement , horizontal overlap resistance) where it could potentially reverse down to its support at 0.8792 (50% Fibonacci retracement , horizontal swing low support). Stochastic (89, 5, 3) is approaching its resistance at 91% where a corresponding reversal could occur.
USDJPY Testing Support, Potential BounceUSDJPY is testing its support at 112.191 (100% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement and horizontal overlap support) where it could potentially bounce to its resistance at 113.494 (61.8% Fibonacci retracement). Stochastic (55, 5, 3) is approaching its support at 2.32% where a corresponding bounce could occur.
AUDUSD Reversed Off Resistance, Potential for Further DropAUDUSD reversed off its resistance at 0.7144(61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal swing high resistance) where it could potentially drop further to its support at 0.7081 (61.8% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) reversed off near its resistance at 98% where a corresponding drop could occur.
Gold might have carved a higher bottom at $1182.66Gold rally towards $1196 levels instills further confidence that a higher bottom could be in place at $1182.66 levels already. The yellow metal may not produce another low before rallying further towards $1250/70 levels, going forward. Also, another push through initial resistance at $1208/09 levels will confirm that the yellow metal is in control of bulls and that any correction would remain well above $1182.66 mark. If the above structure holds well, we could see Gold prices unfolding into 5 waves from here towards $1250/70 levels at least. We maintain our medium term bullish bias in the yellow metal for now.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.