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Cadchfforecast

CADCHF: Triangle patternThe Darkest hour is that before the down, the great hope and light which always draws you towards itself. In Elliott wave analysis, these sparkling lights are the patterns, and when we encounter a pattern, we can build the whole path. What we have learned in Elliott's rules is the importance of the patterns, the most valued of these patterns are Diagonal and Triangle, which we can determine the direction of the movement according to their position. In the case of this currency, a Triangular pattern is being formed and we know that this pattern can be formed in wave B or 4. For this reason, and considering the history of the chart, we can consider this wave as the 4th wave, which will start the uptrend in wave 5 after the downtrend.
by NirmataFX
3
CADCHF | Perspective for the new weekThe impact of Sellers in February 2020 (Bearish Impulse leg that lasted a month on the weekly chart - ) appears to be too strong for the Buyers to gain that confidence needed to invest in the CAD. With the present Head and Shoulder look alike, I shall be patiently looking out for a significant Breakdown of Neckline and Support level @ 0.69300 to hop in the decline. Tendency: Downtrend ( Bearish ) Structure: Channel | H & S| Supply & Demand Observation: i. Despite having a Bullish structure, the CAD$0.0.69800 level has been a very stronghold for Sellers since mid-October 2020. ii. Bullish move from CAD$0.69400 (Support level) continue to be rejected @ CAD$0.69800 hence making it a major level for Supply. iii. With the present character in the market, the Breakout of CAD$0.698000 on the 9th of Nov. 2020 appears to be false as the price continues to experience weak Bullish momentum springing from the Bullish Trendline. iv. This been said, CAD$0.69300 level becomes a level to watch out for significant breakdown for confirmation this week. v. It is also worthy to note here that a significant Breakout of CAD$0.70000 level this week might render this setup invalid and an immediate shift to a rally continuation shall be activated. Trading plan: SELL confirmation with a minimum potential profit of 100 pips. Risk/Reward: 1:3 Potential Duration: 1 to 5 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. 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.
Short
by darcsherry
CAD/CHF BUY IDEAHey tradomaniacs, welcome to a new free trading-setup. Note: This is meant to be a preparation for you. As always we will have to wait for a confirmation. CAD/CHF: Daytrade-Preparation Market-Buy: 0,69630 Stop-Loss: 0,69430 Target 1: 0,69820 Target 2: 0,70000 Target 3: 0,70170 Stop-Loss: 19 pips Risk: 0,5% Risk-Reward: 2,80 LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Long
by Trading2ez
2
CADCHF - BULLISH BIASCAD - BULLISH 1️⃣ Prime Minister Trudeau unveiled a plan to help the economy recovery from the coronavirus fallout, including a commitment to extend wage subsidies until next summer, and support for industries hardest hit by the pandemic. 2️⃣ The upbeat market mood at the start of the week seems to be making it difficult for the safe-haven USD to find demand. CHF - BEARISH 1️⃣ Swiss National Bank kept interest rates steady and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc. ===== TECHNICAL ===== - We are looking to long CADCHF on RBS level + SMA100 area on H1 chart. - CADCHF in bullish zone.
Long
by MonsunAsia