Get started

Cad-chf

CADCHF approaching support, potential bounce!Price is approaching our first support at 0.7530 (horizontal swing low support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur below this level pushing price up to our major resistance at 0.7587 (horizontal swing high resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching our support and a bounce off this level might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CADCHF Testing Support, Prepare For A Bounce!Buy above 0.7530. Stop loss at 0.7490. Take profit at 0.7588. Reason for the trading strategy (technically): CADCHF is testing its support at 0.7530 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support) where we expect price to rise to its resistance at 0.7588 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal swing high resistance). Stochastic (55, 5, 3) bounced off its intermediate support at 8.5% where a corresponding rise is expected.
Long
by theforexarmy
CADCHF approaching support, potential bounce! CADCHF is approaching our first support at 0.7533 (horizontal swing low support, 23.6% Fibonacci retracement) and broke out of our short term descending resistance line where a strong bounce might occur above this level pushing price up to our major resistance at 0.7648 (horizontal swing high resistance, 100% Fibonacci extension). RSI (55) is also seeing a bullish exit and we might see a corresponding rise in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CADCHF Approaching Resistance, Prepare For A ReversalSell below 0.7551. Stop loss 0.7597. Take profit at 0.7476. Reason for the trading strategy (technically): CADCHF is approaching its resistance at 1.0954 (38.2%, 50% & 61.8% Fibonacci retracement, horizontal overlap resistance) where we expect price to react, causing it to reverse and fall to its support at 0.7476 (61.8% & 50% Fibonacci retracement, horizontal swing low support). Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur. We have also identified a bearish divergence with price.
Short
by theforexarmy