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CAD

CADCHF Alert: Bearish Flag Break? Don't Miss Out!Hello Traders, Exciting potential awaits on the CADCHF pair! Currently, we've spotted a bearish flag pattern forming on the 4h timeframe. A break from this formation will serve as a strong confirmation of continuing bearish momentum. Another key element to watch out for is the inside bar. A shift past its limit into a new low will underline the dominant bearish pressure in this scenario. Importantly, this analysis is also supported by the overall market direction which is decisively bearish. Furthermore, recent news has played a role in shaping this setup. The US Dollar has shown a slight weakening trend following a mixed July jobs report, and the Canadian employment change for July registered a decrease of 6.4K jobs. This gives additional context to our bearish outlook for CADCHF. As always, let's stay observant, manage risk wisely, and capitalize on these developments!
Short
by FX-TradingLions
1
EURCAD: Double Bottom Surge! Watch Out for Key News TodayHello, Traders! We're seeing an optimistic market scenario unfold with the recent double-bottom confirmation on the 4-hour timeframe for our pair. It strongly indicates a potential upward swing, and we may see levels rising to 1.477 and above. Coupled with the overall bullish market direction, this aligns perfectly with our trading predictions. Today, the market's pulse will be determined by key economic events and news. Noteworthy among these are: The Bank of England Minutes and Monetary Policy Report. BoE's Interest Rate Decision and Governor Bailey's speech. US Challenger Job Cuts and Initial Jobless Claims for July. USD Nonfarm Productivity for Q2 and ISM Services PMI for July. These are crucial market influencers and can cause quick price fluctuations. Keep an eye on these indicators and stay prepared to adapt your positions accordingly.
Long
by FX-TradingLions