CADCHF: Morning Pattern Trading 🇨🇦🇨🇭
CADCHF reached a key daily structure support last week.
The price formed a cute doji candle on that.
Analyzing the intraday time frames, I spotted an ascending triangle formation
on 1H chart.
Its neckline was broken, and I bought the pair on a retest.
Goals: 0.671 / 0.672
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Chf
Cadchf should have more downside coming
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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EURCHF: Crossed under the 1D MA50. Sell signal activated.EURCHF has closed under the 1D MA50 for the second day in a row, turning the 1D time frame marginally bearish on technicals (RSI = 44.850, MACD = 0.000, ADX = 18.356). That is a clear break out sell signal, so we turn short, targeting the S1 (TP = 0.967250).
If the price breaks under the S2, we will short again, aiming at a -3.25% total decline (TP = 0.95250).
Prior idea:
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GBPCHF Potential DownsidesHey Traders, in today's trading session we are monitoring GBPCHF for a selling opportunity around 1.14700 zone, GBPCHF is trading in a downwards and currently is in a correction phase in which it is approaching a significant daily resistance zone of 1.14700. Once bears are confirmed i would consider 1.13100 as a target as it's considered the next major support zone GBPCHF would be facing.
Trade safe, Joe.
🔥 NEW: CHFJPY 🔥 DAY TRADE 🔥VERY AGGRESSIVE POSITION
-SL @ 161.66 🚫
SLO2 @ 161.55 ⏳
SLO1 @ 161.44 ⏳
TP3 @ 161.38 (closing ALL Buy Orders)
TP2 @ 161.17 (shaving 25%)
TP1 @ 161.04 (shaving 25%)
BSO @ 160.85 ⏳
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CHFJPY Sell signal on the Channel Up.CHFJPY is trading inside a Channel Up in the past 4 months and right now turned sideways after hitting the top of the pattern.
This is a Higher High sell signal which has a triple level target.
Trading Plan:
1. Sell on the current market price.
2. Buy at 157.500 and as long as the RSI (1d) holds the 53.50 Support.
Targets:
1. 157.500 (the 0.5 Fibonacci, Rising Support and potential contact with the MA50 1d).
2. 164.000 (Higher High).
Tips:
1. The RSI (1d) crossed under its MA giving an additional sell signal. Moreover the 53.50 Support, has given an accurate sell target and in turn buy entry, 3 times inside 2 months.
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AUDCHF Potential DownsidesHey Traders, in today's trading session we are monitoring AUDCHF for a selling opportunity around 0.60300 zone, AUDCHF is trading in a downtrend and currently is in a correction phase in which it is approaching a signification weekly supply and demand zone of 0.60300.
Trade safe, Joe.
USDCHF Potential UpsidesHey Traders, in today's trading session we are monitoring USDCHF for a buying opportunity around 0.89300 zone, USDJPY is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.89300 support and resistance zone. If bulls are confirmed i would consider 0.90500 as a target as it's considered the next major resistance area USDCHF will be facing.
Trade safe, Joe.
EURCHF Potential downsides Hey Traders, in today's trading session we are monitoring EURCHF for a selling opportunity around 0.98100 zone, EURCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.981 support and resistance zone.
Trade safe, Joe.
Will USDCHF find buyers at trend line support?USDCHF - 24h expiry
The bearish engulfing candle on the 4 hour chart is negative for sentiment.
A higher correction is expected. Trend line support is located at 0.8940.
Price action continued to range between key support & resistance (0.8910 - 0.9000) although we expect a break of this range soon.
Expect trading to remain mixed and volatile.
We look to Buy at 0.8944 (stop at 0.8919)
Our profit targets will be 0.9004 and 0.9014
Resistance: 0.8990 / 0.9016 / 0.9030
Support: 0.8970 / 0.8940 / 0.8925
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
CADCHF Potential DownsidesHey Traders, in today's trading session we are monitoring CADCHF for a selling opportunity around 0.67900 zone, CADCHF is trading in a downtrend and currently seems to be in a correction phase in which it is approaching the trend at 0.67900 support and resistance zone.
Trade safe, Joe.
MarketBreakdown | Dollar Index, USDCHF, S&P500 Index, AUDJPY
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💲
The Index broke and closed above a resistance line of a falling expanding wedge pattern.
It was retested on Friday.
Probabilities are high, that a bullish movement will initiate from a broken trend line soon.
2️⃣USDCHF daily time frame 🇺🇸🇨🇭
The pair keeps consolidating. The market is stuck within a horizontal range.
For now, the plan is to wait for a breakout of one of its boundaries.
A bearish breakout of the support of the range will trigger a strong selloff,
while a bullish breakout will be an important bullish signal.
3️⃣ S&P500 Index (SPY) daily time frame 💲
The market is currently testing a local daily high.
If the price violates and closes above that, it will be a strong bullish signal.
A bullish continuation will be expected then.
4️⃣ AUDJPY daily time frame 🇦🇺🇯🇵
The pair is trading in a long-term bullish trend.
After the price set the last high, a correctional movement started.
The pair formed a falling wedge pattern.
Its resistance was broken last week.
I believe that a trend-following movement will initiate soon.
Do you agree with my market breakdown?
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USD/CHF short ideaHello Traders
Our technical view has been shown in the chart.
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Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
GBP/CHF is aiming to reach 1.20($$$)Hello Traders
GBP/CHF has broken Elliot triangle correction.
We expect another upward wave(wave C).
Our technical view has been shown in the chart.
If you like it then Support us by Like, Following, and Sharing.
Thanks For Reading
Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
USDCHF: On the verge of a breakout.USDCHF is trading on and under the 1D MA50 after the rejection on the 1D MA100 which also happened to be the top of the 1D Channel Down. The 1D technicals are neutral (RSI = 50.625, MACD = 0.000, ADX = 19.636) which indicates that the price will most likely commit to the direction of the next breakout.
If it closes under the HL line, sell and target the 1.5 Fibonacci level (TP = 0.86550). If the candle closes over the 1D MA100 (hasn't done so since November 10th 2022), buy and target the 1D MA100 (TP = 0.92150).
Prior idea:
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USDCHF Potential UpsidesHey Traders, in today's trading session we are monitoring USDCHF for a buying opportunity around 0.9 zone, USDCHF was trading in a downtrend and successfully managed to break it out. Currently we are waiting for a correction in order to see a potential retrace of the trend towards more highs.
Trade safe, Joe.
EURCHF Strong sell opportunityEURCHF got rejected this week not just at the top of the 2023 Channel Down but also on the MA200 (1d).
A candle closing under the MA50 (1d) can be a confirmation for a long term sell opportunity.
Trading Plan:
1. Sell after the price closes a (1d) candle under the MA50.
Targets:
1. 2.000 (Rising Support).
2. 3.000 (Resistance 2).
Tips:
1. The RSI (1d) broke under the MA line and is on a similar Double Top rejection pattern as the March 23rd top.
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CHF JPY - FUNDAMENTAL ANALYSISAdam Cole, Chief Currency Strategist at RBC Capital Markets, has highlighted recent policy shifts from the Swiss National Bank (SNB), the persistent threat of imported inflation, and increasing levels of verbal intervention in Japan.
"While the Swiss National Bank (SNB) may have let down some investors with a 25bp rate hike last week when many were hoping for a 50bp increase, it made its intentions clear: it's ready to buy CHF to provide suitable monetary conditions," says Cole.
Indeed, despite a somewhat disappointing rate hike, the SNB's commitment to provide appropriate monetary conditions and willingness to buy CHF indicate a robust approach to currency management.
The SNB's current focus on selling foreign currency further substantiates this view.
Furthermore, the Swiss central bank's leadership recognises the benefits of CHF appreciation in the current economic climate.
SNB Chair Jordan noted that the strong CHF has effectively acted as a shield against imported inflation, an increasingly prevalent issue globally.
"SNB Chair Jordan revealed over the weekend that from the present perspective, monetary policy might not be tight enough to anchor price stability. He also noted that CHF appreciation has shielded Switzerland from imported inflation," Cole adds.
In Japan, meanwhile, the situation is a bit more nuanced. Despite the increasing verbal interventions from officials, the strategists at RBC believe there is potential in shorting JPY at current levels.
"In Japan, officials are ratcheting up their verbal interventions. Despite this, and the rising risk of intervention, RBC sees potential in shorting JPY at current levels," says Cole.
The pullback in USD/JPY from Friday's highs does leave some room for maneuver. This environment, coupled with the SNB's policy stance and Switzerland's inflationary shield, has led RBC to take a bullish position on the CHF/JPY pair.
As the markets continue to evolve in response to inflation, interest rate adjustments, and economic policy decisions, the perspective offered by strategists like Cole is crucial.
EURCHF to find buyers at current range?EURCHF - 24h expiry
Bespoke support is located at 0.9755.
Previous resistance at 0.9755 now becomes support.
0.9750 continues to hold back the bears.
We look to buy dips.
Daily signals are mildly bullish.
We look to Buy at 0.9753 (stop at 0.9729)
Our profit targets will be 0.9813 and 0.9823
Resistance: 0.9795 / 0.9815 / 0.9830
Support: 0.9778 / 0.9765 / 0.9750
Risk Disclaimer
The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy.
Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
UPDATE CHFJPY Target hit at 160.79It was a long hold since April.
The interest expense daily, added up and the profits weren't as high as I wanted it to.
But we kept to our guns and held.
And so, target 1 hit at 160.79.
Now we can expect the price to consolidate and move into a range before the next run up, but you'll be the first to know.