Great opportunity to go long on the pair as we are bouncing off a previous important weekly support. If this bounce persists, we could see a multi-weeks uptrend so I am initiating a long campaign using intra-day time frames.
This is the forex quote for the Canadian Dollar against the Swiss Franc. In this quote, the value of one CAD (the 'base currency') is quoted in terms of CHF (the 'counter currency'). The Canadian Dollar is often considered to be a 'commodity currency' because Canada exports a large amount of natural resources, notably oil. In practical terms, this makes it...
LONG CAD/CHF from 0.71961 / 0.71238 t.p 1- 0.73461 t.p 2- 0.75230 t.p 3- 0.76822 Stop lose closing 1daily candle under 0.71238
CADCHF looking over sold on the RSI and seems to have bounced on the weekly trendline. looks like 400+ PIPS are up for grabs good luck
So these past two weeks have been a mess with the Euro and the US dollar. I've decided to stray away until I see stability and stronger signals. I decided to stick with different pairs for the moment. Today and for the rest of the week, I'll be considering a position in CADCHF and here's why: Weekly In the weekly chart I'm seeing a range after a...
CADCHF is testing major resistance at 0.7412 (Fibonacci retracement, horizontal swing high resistance) and it's starting to break out of our triangle formation. Our next major resistance is at 0.7434 which is a fibonacci extension, retracement and swing high resistance level. If price does drop, we're seeing it potentially going all teh way down to 0.7366 before...
The Canadian Dollar has been trading in a descending channel against the Swiss Fran since early January. During this period of decline, the currency pair has reached an eight-months low level of 0.7337. The inability for the Loonie to make a new move upwards suggests that it might continue to fall. The CAD/CHF pair has reached the weekly S1 at 0.7344. If this...
CADCHF is in the buy zone, a big support zone. I expect a pullback till 0.75800
Intro: CADCHF has made a bullish exit from its long term channel, we maintain our bullish bias unless it reintegrates. Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from...
Intro: CADCHF has made an exit of its channel signalling a change in momentum, and also providing a great opportunity to buy. Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from...
CADCHF has made a bullish exit of its long term descending channel, this is a huge sign for a potential bullish reversal. Our 1st support is at our breakout level of 0.7386 and we can see two major resistance levels at 0.7439 (Fibonacci retracement, horizontal overlap resistance) and 0.7469 (Fibonacci retracement, horizontal overlap resistance). RSI (55) has also...
Sell below 0.7404. Stop loss at 0.7446. Take profit at 0.7318. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7404 (channel resistance, horizontal overlap resistance, Fibonacci retracement) but we’re also seeing that it might be breaking out of our long term descending channel so we have to be careful and monitor price...
CADCHF is now testing our long term channel resistance once again and a further drop could occur from this level as it has respected the channel so well so far. Our 1st resistance is at 0.7438 (Fibonacci retracement, horizontal overlap resistance) and our next support is all the way down at 0.7368 (Fibonacci extension). Trading CFDs on margin carries high risk....
The Canadian Dollar has been trading in a neat channel down against the Swiss Franc since early January. The pair, however, failed to reach its bottom boundary during the latest wave down and reversed at 0.7422 for the second time in a week. If looking at the pair’s movement today, the Loonie failed to breach the upper channel line, reinforced by the 55– and...
Sell below 0.7470. Stop loss at 0.7528. Take profit at 0.7376. Reason for the trading strategy (technically): Price is in a strong descending channel and approaching channel resistance once again. We look to sell below 0.7470 resistance (Fibonacci retracement, channel resistance, horizontal overlap resistance) for a further push down to 0.7376 support (Fibonacci...
Sell below 0.7543. Stop loss at 0.7612. Take profit at 0.7416. Reason for the trading strategy (technically): Price is in a strong bearish channel and we’re expecting more bearish momentum from price. Major resistance remains at 0.7543 (Fibonacci retracement, horizontal overlap resistance, channel resistance) and we expect a drop from here to push price down...
A couple of CAD pairs seem to be seeking momentum from a bearish move to push through weekly trend lines, which is interesting considering positive news is expected.
The Canadian Dollar has been constrained in a channel up against the Swiss Franc. The Loonie tested the upper boundary of this pattern and a senior channel circa 0.7910, being followed by a strong period of decline. The pair’s movement during the past three sessions reveals the formation of a head-and-shoulders pattern. However, in order to confirm this bullish...