CADCHF is approaching our first support at 0.7722 (horizontal overlap support, 23.6% Fibonacci retracement) where price might potentially rise to our first resistance at 0.7818 (horizontal swing high resistance, 76.4% Fibonacci retracement). Stochastic is also approaching support where a bounce off this level might see a rise in price.
CAD/CHF has been trading in a triangle-like formation since early May. Its upper boundary is formed by a trend-like, while the bottom one—is a one-month support/resistance level at 0.7713. The strong hourly plunge on May 18 resulted in a breakout of the dominant three-month channel at 0.7790. The Loonie has since returned to its lower boundary and the 200-hour SMA...
CADCHF bounced off our first support at 0.7718 (horizontal overlap support, 23.6% Fibonacci retracement) where it might rise to our first resistance at 0.7812 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8%, 100% Fibonacci extension). A breakout above this level might push price up to our second resistance at 0.7853 (horizontal swing high...
CADCHF is approaching our first support at 0.7758 (horizontal overlap support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). A strong bounce might occur above that level, pushing price up to our major resistance at 0.7910 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure, in...
CADCHF is approaching resistance at 0.7908 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) a reversal could potentially occur, causing price to fall to its support at 0.7715 (23.6% Fibonacci retracement, horizontal overlap support). Stochastic (55, 5, 3) is approaching resistance at 96% where a corresponding reversal could occur.
Sell below 0.7908. Stop loss 0.7999. Take profit at 0.7715. Reason for the trading strategy (technically): CADCHF is approaching resistance at 0.7908 (100% Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) where we expect to see a reversal, causing price to fall to its support at 0.7715 (23.6% Fibonacci retracement, horizontal...
CADCHF is testing its resistance at 0.7745 (38.2% Fibonacci retracement, horizontal overlap resistance) where if it surpasses this resistance, it could potentially rise to its next resistance at 0.78070 (horizontal swing high resistance) if broken. Stochastic (55, 5, 3) bounced from its support at 7.7% where a corresponding rise is expected.
Buy above 0.7745. Stop loss at 0.7714. Take profit at 0.7807. Reason for the trading strategy (technically): CADCHF is testing its resistance at 0.7745 (38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to rise to its resistance at 0.78070 (horizontal swing high resistance) if broken. Stochastic (55, 5, 3) bounced from its support...
CADCHF reversed nicely off its intermediate resistance at 0.7806 (horizontal swing high resistance) where it could potentially fall to its intermediate support at 0.7714 (100% Fibonacci extension, 50% Fibonacci retracement, 61.8% Fibonacci retracement, horizontal overlap support) before bouncing back up to its resistance at 0.7914 (61.8% Fibonacci extension,...
Price reached a very critical zone. Watch for a rejection before going short
Here you are a good setup, this are free pips, selling from 77550 with 30 pips sl and 80 pips tp. When will reach the buy zone you can buy and catch another 130 pips
Sell below 0.7695. Stop loss at 0.7713. Take profit at 0.7648. Reason for the trading strategy (technically): CADCHF is tested its resistance area at 0.7695 (76.4% Fibonacci retracement, multiple swing high resistance) where it reacted and reversed. We are expecting a further drop down to its support at 0.7648 (50% Fibonacci retracement, horizontal overlap...
CADCHF is approaching its resistance area at 0.7662 (100% Fibonacci extension, 100% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance) where price could potentially react off it and fall to its support at 0.7609 (61.8% Fibonacci extension, multiple swing low support). Stochastic (55, 5, 3) is approaching...
Sell below 0.7662. Stop loss at 0.7681. Take profit at 0.7609. Reason for the trading strategy (technically): CADCHF is approaching its resistance area where we look to sell below 0.7662 (100% Fibonacci extension, 100% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance). We expect price to fall to its...
Price rejected the major resistance and is heading back down to next support level of .756
Price is our first support at 0.7608 (horizontal swing low support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7713 (horizontal swing high resistance, 100% Fibonacci extension). Stochastic (55,5,3) is also seeing a bullish exit and is a good precursor for a...