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Cadchflong

CADCHF LongContinuing to ride the bullish trend mainly driven by the new NAFTA agreement last Wednesday, but still need to be careful about risk of getting whipsawed especially CAD Ivey PMI news tomorrow at 2pm, and CHF CPI news on Friday. Closely monitoring possible breakout of this pair at 0.77144, and will either setup a buy stop @0.77297, or wait for bounce (safer option) and setup a buy limit at 0.77144 instead, with initial TP at 68.2 fib level and SL few pips below 0 fib level. www.marketpulse.com Daily: Weekly: Confidence: B (because of risks from upcoming news mentioned above)
Long
by aiza_belle
1
CADCHF approaching resistance, potential drop! CADCHF is approaching our first resistance at 0.7715 (horizontal overlap resistance, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.76299 (horizontal pullback support, 23.6% Fibonacci retracement). Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks
Short
by Tickmill
CADCHF approaching resistance, potential drop!CADCHF is approaching our first resistance at 0.7531 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.7438 (horizontal swing low support). Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
1
CADCHF approaching resistance, potential drop! CADCHF is approaching our first resistance at 0.7401 (horizontal pullback resistance, 100%, 61.8% Fibonacci extension, 23.6% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.7251 (horizontal swing low support). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets