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.
Cadchfanalysis
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.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
Daily Update--CAD/CHF-- Big Chat View Forecasting 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. this is not signal. it's my opinion. trade your own risk. and Must Follow Money management.
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Thank you for your support!
CAD/CHF, we are looking for a another solid shorting opportunityCADCHF is currently creating a beautiful Head and Shoulders formation. Price has already broken bullish trend. More risky possibility is to open sell entry now and put your stop above resistance or safer one is to wait until price breaks neckline to take short.
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.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX