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CAD/CHF Analysis : Bullish movement Hello everyone, as we all know the market action discounts everything :) _________________________________Make sure to Like and Follow if you like the idea_________________________________ CAD/CHF has started this week's session with a great Bullish movement crossing all the daily resistance lines and seems to be gaining more momentum by the hour. the bulls will need to get over the 50-day EMA first for the trend to be considered Bullish but At that point, the lower time frames are giving a short-term profit potential. Possible Scenarios for the market : Scenario 1 : The market is trending at 0.73393 right now with a Strong Bullish candle forming for today, If the Bulls were able to hold that momentum then we could be seeing the market continue its Bullish movement and reaching the first weekly resistance line located at 0.73540, From there we will have a small confirmation for this Bullish trend that could lead the price near the 0.74030 where we might see a control battle. the weekly big Bullish target will be 0.74890 zones. Scenario 2 : Looks like the Bulls are in control right now but the Bears may step in and drive the price back down after reaching 0.73540, which could lead to a drop that could end near the 0.7220 level but there are no big signs for that yet, In case that happens a big battle will accrue between the Bulls and Bears at that level and the outcome will determine the direction for the market in the next period of time. Daily Technical indicators show : 1) The market is above the 5 10 20 50 100 and 200 MA and EMA (Strong Bullish Sign) 2) The RSI is at 58.70 showing Great strength in the market. No divergence was found between the market and the indicator. 3) The MACD is above the 0 line indicating that the market is in a Bullish state. With a positive crossover between the MACD line and the Signal line. Daily Support & Resistance points : support Resistance 1) 0.7303 1) 0.7317 2) 0.7294 2) 0.7324 3) 0.7288 3) 0.7332 Weekly Support & Resistance points : support Resistance 1) 0.7220 1) 0.7354 2) 0.7133 2) 0.7403 3) 0.7085 3) 0.7489 Fundamental point of view : The CAD/CHF cross rate has recently spent periods within various trading ranges, and it might be the case that it has established a new one after having broken lower in August. The move back up from that low was fast and it is now trading within a broad range again. no major Fundamental news happening right now that could affect the CAD/CHF market, But the 10-Year Bond Auction that is happening in Canada could have a small impact on the market. This is my personal opinion done with technical analysis of the market price and research online from Fundamental Analysts and News for The Fundamental point of view, not financial advice. If you have any questions please ask and have a great day !! Thank you for reading.
Long
by GabiDahduh
2
CADCHF | Perspective for the new weekCommodity markets struggle to rebound, but the Canadian dollar remained under strong pressure even at the latter part of last week trading session. The appearance of a Double Top structure ( a strong reversal pattern) on the chart confirms that the price has found a peak @ Fr0.75000 and has since the beginning of May 2021 continue to find lower lows which culminated in the Breakdown of Key level @ Fr0.74000 - a level that has kept price "supported" for 42days. Tendency: Downtrend (Bearish) Structure: Breakdown | Supply & Demand | Reversal pattern (Double Top) Observation: i. i. Double Top: Confirmation of an extremely bearish technical reversal pattern that formed after the price reached a peak two consecutive times with a moderate decline between the two highs insinuates a risk of further decline in the coming week(s). ii. A successful Breakdown of the Neckline area (Key level) on the 9th of June 2021 was followed by multiple rejections of the same zone. iii. Multiple rejections of the Fr0.74000 area projects a new supply niche for future selling opportunity @ Fr0.7400/0.74400; this is evident in the activities that occurred in the latter part of last week trading session. iv. Shooting star: the price tried to rise significantly during the last two days (17th/18th June 2021), but then the sellers took over and pushed the price back down toward the open of the previous day to close below the neckline. v. In this regard, it appears to be appropriate that we look for a trading opportunity below the neckline in the coming week... Trade consciously! 😊 Trading plan: SELL confirmation with a minimum potential profit of 220 pips. Risk/Reward : 1:8 Potential Duration: 6 to 12days NB: This speculation might be considered to make individual decisions on the lower timeframe. Watch this space for updates as price action is been monitored. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks 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.
Short
by darcsherry
CADCHF buyHello Traders, back to another profit day If you like my idea please give me a like and comment, That's will be a great appreciation to do more predictions Here is the full analysis for this pair, Let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. CADCHF growing from the support area I think there will be a perfect buy Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. The information given is not a Financial Advice. Please support this idea with a like, if you find it useful have a good profit week guys
Long
by Bexi03