CADCHF: Back to Bullish Trend?! 🇨🇦🇨🇭
CADCHF is finally recovering after quite an extended bearish rally.
I see a confirmed bullish breakout of a key daily horizontal resistance.
It signifies the strength of the buyers.
I believe that the market will keep recovering
and reach 0.659 area soon.
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CADCHF trade ideas
CAD/CHF BEARS WILL DOMINATE THE MARKET|SHORT
Hello,Friends!
We are going short on the CAD/CHF with the target of 0.643 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
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#CADCHF short term selling opportunityA short position would be considered if the price could break below the rising wedge pattern.
A long position would be initiated if the price could break above the rising wedge pattern and closes above a VWAPs.
The trading scenario with the line arrow has a higher possibility of occurring.
Confirmations for the shorting scenario:
Price below important dynamic resistance.
Price creating a rising wedge pattern with a bearish intrinsic nature.
bearish divergence between price and momentum oscillator.
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CAD/CHF BULLS ARE STRONG HERE|LONG
Hello,Friends!
We are now examining the CAD/CHF pair and we can see that the pair is going down locally while also being in a downtrend on the 1W TF. But there is also a powerful signal from the BB lower band being nearby indicating that the pair is oversold so we can go long from the support line below and a target at 0.647 level.
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