"AUDCHF broke an important Support Zone" by ThinkingAntsOk4H Chart Explanation:
- Price was on a lateralization since August 18'.
- Price broke the Support Zone.
- It is currently on a Corrective Structure.
- If price breaks it at 0.652, potential to move down towards the Fibo Levels.
Updates coming soon! Check out our Weekly and Daily Analysis supporting this short idea.
Weekly Vision:
Daily Vision:
Aud-chf
AUDCHF: Strong buy opportunity.The pair has been on a strong rise since June 21st with 1D turning green. This helped the price to hit the 1D MA50 and the previous times this happened, the pair extended the uptrend until the MA200. We expect a repetition of this pattern with a rough target at 0.70500.
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Loonie Crosses and BoCBy Andria Pichidi - July 10, 2019
Bank of Canada’s announcement is expected to result in no change in rates and a repeat of the data-driven mantra. Given that recent data has been consistent with their ongoing view that the economy is on the mend from the Q4/Q1 weakness, the takeaway should be for continued steady policy through year end. For example, the latest data was yesterday with Canada’s housing starts and permits showing a well-supported market through mid-year. Housing starts surged 24.8% to 245.7k in June after falling to 196.8k in May from 230.7k in April. The “trend” in housing starts (6-month moving average) improved to 205.8k in June from 200.5k in May. Meanwhile, the separate permit value measure plunged 13.0% in May after jumping 16.0% in April.
The BoC also releases the Monetary Policy Report alongside the announcement, followed by Governor Poloz’s usual Q&A with the press.
While the Fed and ECB have leaned dovishly recently, spurring market hopes for more easing, we do not expect the BoC to join the club. Recent economic data has come in close to the BoC’s expectations, tracking an improving economy. Trade uncertainty remains a hefty source of downside risk, but it is also a potential upside risk too (if/when the US and China finally reach an agreement). The currently accommodative policy setting is providing ample stimulus to an economy that is well into the recovery phase. Economic data is housing related this week.
Currency Market
USDCAD
rallied to 1.3140 yesterday, up from last week’s lows of 1.3036. The move came on general USD strength, which has been maintained since last Friday’s US jobs report, and on the lack of Oil price follow through gains. In June the USDCAD has dropped by nearly 530 pips, however in the long-term picture is following an upwards path, since August 2017 from 1.2060 lows. Despite June’s underperformance, the latest weekly doji candle along with the bounce this week above 200-week SMA, spread some hopes for a potential recovery of the pair. However, this scenario hasn’t been confirmed yet. A reversal to the upside could be suggested only if a morning star pattern is formed along with a move above 50-day SMA at 1.3240. Support holds at the bottom of the weekly channel and the June’s low at 1.3036. Intraday, Resistance holds at 1.3045-1.3060 (9-day high and 23.6% Fib. since May 31). Support is set at 1.3100.
The daily technical indicators are weak, as RSI and MACD have been configuring below neutral, however, they present slight strengthening of positive bias as RSI is at 40 from 31 low and MACD lines are above signal line.
USDCAD weekly and Daily
AUDCAD, on the other hand, broke the 8 years’ Support at the 0.9100 level, as bears look to be in full control this year. Currently it extends its Bollinger Bands further to the downside in the medium and long term charts, below 20- , 50- and 200-month SMA. Meanwhile, technical indicators have been negatively configured, as negative bias seems to get stronger and stronger. All the above suggest that the pair has a lot of downwards path to cover, while the break of the 0.9100 level opened the doors towards 2010 lows.
AUDCAD Monthly and Weekly
CADCHF has continued moving lower for a second consecutive day after the peak seen at 0.7611 on Monday. The move came in general on the anticipation of BoC statement. Overall, the CADCHF’s lookout remains positive with RSI sloping above 50 the past 2 weeks, while MACD spiked well above signal line within the positive territory. This suggests further positive bias in the medium term. In the near term meanwhile, the 2 days’ weakness looks to be a correction on the sharp rally seen since June 25, as the asset holds well above 20-, 50- and 200-day SMA but also the midpoint (50% Fib level) of the 2-weeks’ incline.
Support holds at 0.7535-0.7545 intraday and Resistance is set at 0.7572.
CADCHF Daily
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AUDCHF - EDUCATION - 16. JUNE. 2019Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
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1 HOUR
Bearish market conditions searching for support.
4 HOUR
Strong bearish waving market with small pullbacks.
DAILY
Price at january lows slowing down, in my view there should be a pullback to the upside shortly.
OVERALL
Very bearish market with strong sellers rallie, price slowing down and found support kind of right now.
Looking for pullback patterns if we are able to form new lows this week.
Market nearly always had a pretty strong pullback at our levels and those lows.
Good luck
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Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
AUDCHF - FOREX - 18. JUNE. 2019DACAPITALTRADING V2.0:
Welcome to DACapitalTrading, We provide any kind of Technical and Fundamental Analysis
for Forex and Crypto-Currency Markets every day!
-
1 HOUR
Very strong bearish pin taking out several long holders.
4 HOUR
Bearish market turning bullish now.
DAILY
Very strong support holding this level now, expecting prices to push up!
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FOREX SETUP
BUY AUDCHF
ENTRY @ 0.68350
SL @ 0.68040 (30 Pips)
TP @ 0.68880 (50 Pips)
RR: 1.70
Use normal Risk (1% per Position)
(Remember to add a few pips to all levels - different Brokers!)
Leave us a comment or like to keep our content for free and alive.
Have a great week everyone!
ALAN
AUDCHF - ShortThe Australian Dollar has been weak of late, and with the current risk off sentiment we are expecting a shift back into the worlds safe haven currencies of JPY and CHF.
Our favoured pair for the coming week is AUDCHF with a beautiful 15m bearish engulfing candle right off of our level of interest at 0.68630.
Initially this trade has been taken as a day-trade however we will look to scale into a larger position and hold for anywhere from a couple of days to a couple of weeks should the initial target at 0.68325 be convincingly broken.
Keep it real.
Cheers, Paul.