CADCHF is approaching our first support at 0.7608 (horizontal swing low support, 23.6% Fibonacci retracement, 61.8% Fibonacci extension). 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 we might see a...
Price failed to close above the important resistance and 61.8% Fib level. This week we may see a retracement to the upside before moving lower.
CADCHF is currently setting up for the next move up. Watch the lower time frame an entry.
The Canadian Dollar has accelerated significantly against the Swiss Franc since mid-March. This allowed for a breakout of the prevailing channel down and the formation of a new junior ascending channel. The Loonie was respecting the boundaries of this steep pattern for two weeks until it began diminishing the trading range. This could be an early indication of...
Sell below 0.7652. Stop loss at 0.7685. Take profit at 0.7558. Reason for the trading strategy (technically): CADCHF is approaching resistance at 0.7652 (61.8% Fibonacci retracement, horizontal overlap resistance) where we expect to see a reaction, causing price to fall to its support at 0.7558 (61.8% Fibonacci extension, 23.6% Fibonacci retracement). Stochastic...
You may be better served risk wise to just wait until next week to mess with this. But Cadchf came off the .618 retrace and both trend lines of its impulse wave patterns. I would prefer to see a bull trap pattern before entering but the .38 retrace of what is possibly a wave 3 lines right up with a wave 5 clear out of this smaller wave. That target would make...
Technical Analysis: Bias Bullish - Price has broken above 100-DMA, eyes 200-DMA - Momentum studies highly bullish - RSI shows strength at 67 levels with room to run further - +ve DMI dominance, ADX above 25 and rising in support of trend - On weekly charts, MACD is on verge of bullish crossover and Stochs have rolled over from oversold levels Support levels -...
Sell Below 0.7619. Stop loss at 0.7682. Take profit at 0.7487. Reason for the trading strategy (technically): CADCHF is approaching its resistance at 0.7619 (horizontal overlap resistance) where we expect to see a reversal, causing price to push down to its support at 0.7487 (38.2% Fibonacci retracement x2 swing low support). We do have to be cautious of the...
CADCHF is approaching our first resistance at 0.7562 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 0.7429 (horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish...
Price reacted off its resistance at 0.7558 (100% Fibonacci extension, horizontal swing high) where we expect to see price push all the way down to its major support at 0.7465 (61.8% Fibonacci extension, 50% Fibonacci retracement, horizontal swing low support). We do have to be cautious of the intermediate support at 0.7500 (100% Fibonacci extension, 100% Fibonacci...
Pair showing strong signs of upward movement, no looking back RSI on daily chart is not overbought yet, which shows no sign of stopping Price had broken above the 50ma at this point, showing signs of strength
The wedge has broken up. looking for retracement before entring long...
The Canadian Dollar has gained 2.46% against the Swiss Franc during the past two weeks. This period of appreciation began shorty after the pair reversed from the senior channel and its ten-month low of 0.7258. It has since been trading in an ascending channel along the 55– and 200-hour SMAs. Technical indicators suggest that the current surge is likely to be...
After several tests of the s/r zone we just tested it again and now we are close to another smaller support which was a resistance before (s/r zone) and we are able to draw in a trendline to the upside with 3 touches . Now we have our set up with double confirmation if it gets triggered! I will wait for a break n close through the support and trendline to the...
Price has reached a strong psychological level of resistance and couldn't break it. A harmonic Butterfly pattern has been completed at that zone of resistance and price has began a reversal from D. Preparing for a break below the 200 EMA with a possible swing trade SHORT to exit on lowest trend line where price is likely to find support. A LONG swing position is...
Long position based on bullish channel and low RSI recent levels