CADCHF signal (LONG)Hello friends.
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Everything on the chart.
open pos: market
targets: 0.692 and 0.694
after first target reached move ur stop to breakeven
stop: 0.683 (depending of ur risk). ALWAYS follow ur RM .
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Cadchfanalysis
CADCHF - BULLISH BIASCAD - BULLISH
1️⃣ Higher oil prices on the back of a bigger-than-expected drop in US crude oil inventories last week according to both the EIA and API.
2️⃣ All major economic data in Canada printed well.
3️⃣ CAD also supported by a weaker dollar amid a lack of progress in negotiations on a new US coronavirus relief package.
CHF - BEARISH
1️⃣ The SNB President Thomas Jordan has been reiterating the CB will continue to intervene strongly in the foreign exchange market to stop the rise of the highly valued franc in order to prevent deflation and protect the export-orientated economy.
2️⃣ Switzerland is expected to maintain its ultra-expansive monetary policy for some time as it is facing the sharpest downturn since the aftermath of oil price shocks in the 1970s.
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TECHNICAL
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- We long CADCHF on RBS level + SMA50 area.
- CADCHF on bullish zone.
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RISK ON THIS TRADE
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- This trade will hit stop loss if market sentiment turns to risk-off. Also, falling in oil prices will pressure this pair.
CAD/CHF Short with Bearish DivergeneGood day, snipers. Here in the CAD/CHF , we have multiple confirmations to go short. TECHNICAL ANALYSIS first on the 4H time frame, price broke out of the ascending trend line and retested it completely then rejected it on the 1H time frame. Price also rejected the previous resistance and is in a bearish divergence on the RSI. FUNDAMENTAL ANALYSIS next is about the CoT report. Currently, net positions regarding the CAD are being sold while the CHF is being bought the previous week. Specifics are discussed with the team and accurate entry, SL and TP are sent too.
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CADCHF | MY PERSPECTIVE FOR THE WEEKDespite the Bullish run (Corrective move) from late July 2020; The anticipation of negative numbers and economical dent from Unemployment rate and Net Change in employment was not a convincing yard for a continuing rally. Price broke out of my Key level in the beginning of the week only to Break down and close below this level in the latter part of the week inciting a much good reason for Buyers to step aside for a better deal in the following week(s).
Tendency: Downtrend ( Bearish )
Structure: Retracement | Trendline | Breakdown
Observation: i. The fall of price that began mid-July appears to continue its second phase of decline after completing a correction into 61.8 retracements of impulse leg.
ii. Breakdown of my Key level @ 0.68300 is enough signal for me to consider Bearish bias this coming week.
Trading plan: SELL confirmation with a minimum potential profit of 120 pips.
Risk/Reward: 1:2.5
Potential Duration: 3 to 10 days
NB: This speculation can be considered to make decisions on lower timeframes.
Watch this space for updates as price action is been monitored.
NirvanaForex
Risk Disclaimer:
Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.
CAD/CHF H4 SellMarket sentiment seems to be on the positive side at this time, risk-on currencies could see some positive upside move throughout the rest of the Asia session... however we could see a change during the EUR session so I'm looking to sell CAD anticipating a bearish market mood and continuation of the downward trend.
CADCHF - More sellers coming in the market?CADCHF has been in bearish market flow and ended this week with a strong selling pressure candle at a previous structure zone. H1 is showing a evening star variation and M15 is showing a shift in structure. Will wait for price to pullback on LTF before entering Sells.
WHY WE LOOK TO SHORT CADCHF?=====
MARKET OUTLOOK
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CAD - BEARISH
1️⃣ Oil price gains are capped by concerns the resumption of COVID-19 in America will curtail demand.
2️⃣ Flaky risk sentiment are hampering the Loonie.
CHF - BULLISH
1️⃣ The recent escalation in diplomatic tensions between the US and China added to market concerns that the economic recovery in the US could be grinding to a halt amid the resurgence in coronavirus cases.
2️⃣ Risk-off markets sentiment will help Swissy.
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TECHNICAL
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📊 We look to short #CADCHF on SBR level + SMA50 area.
📊 CADCHF in bearish zone.
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MONEY MANAGEMENT
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💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
cadchf shorttwo things to keep in mind :
1.Switzerland is expected to maintain
its ultra-expansive monetary policy
for some time as it is facing the sharpest
downturn since the aftermath of oil price shocks in the 1970s.
2.The SNB President Thomas Jordan
has been reiterating the CB will continue
to intervene strongly in the foreign exchange
market to stop the rise of the highly
valued franc in order to prevent deflation
and protect the export-orientated economy
on the other hand oil market will head down this week and cad with it and gold is rising with chf
so its safe for sometime to keep with the trend here
u need to know your exit by your self
take this trade on your responsibility
CADCHF long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
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