TradeCityPro | CADCHF Weekly Triggers for Precision Trading👋 Welcome to the TradeCityPro channel!
Let’s step away from the crypto world and dive into a Forex analysis to prepare solid triggers for opening positions this week :)
🌐 Fundamentals Recap
CAD: Strengthened by oil prices and Bank of Canada policies. Hawkish stances and higher oil prices are supportive.
CHF: safe haven gaining in risk-off markets, driven by Swiss National Bank actions and global uncertainty.
Key Dynamics: Risk-on sentiment supports CAD; risk-off favors CHF.
📊 4-Hour Chart Analysis
The pair is in a range-bound structure between 0.6274 (support) and 0.6316 (resistance). The last 4-hour candle engulfed the previous 6, signaling a bearish outlook.
Before this range, a strong green weekly candle formed but was fully engulfed in the subsequent week, emphasizing the longer-term downtrend.
CADCHF is near its historical lows, which might attract selling pressure for continuation moves.
📈 Long Position Trigger
Avoid longs for now. A bullish breakout above 0.6351 with higher highs and lows would be necessary to justify a long position.
📉 Short Setup
break below 0.62741 with confirmation (e.g., RSI below 31.21) offers a solid shorting opportunity.
Stop Loss Tip: Let the range consolidate for one or two more candles to tighten your stop-loss and refine your entry.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
