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CAD (Canadian Dollar)

CADCHF LONG/BUY🔰 Pair Name : CAD/CHF 🔰 Time Frame : 4H/ DAILY 🔰 Scale Type : MID Scale 🔰 Direction : SHORT/SELL 📈From a fundamental perspective, the CAD (Canadian Dollar) and USD (United States Dollar) share a strong correlation due to their economic ties. The majority of Canada's trade is with the US, making it susceptible to economic events and policies in the US, which significantly impact the Canadian economy and the CAD's value. 💼💱 📊 Currently, DXY (US Dollar Index) is experiencing a correction after reaching a critical low on the Daily chart. On the other hand, CADCHF (Canadian Dollar against Swiss Franc) has reached the daily demand zone at the 0.64730 area. Yesterday, a bullish pin bar formed, followed by a green bull candle today, indicating potential upward movement. 📉📈 📉📉 RSI (Relative Strength Index) for CADCHF shows it is oversold, and the month-long price drop has created a significant market imbalance below. We expect CADCHF to move up to collect the market imbalance, targeting at least the Fibonacci level 38.2 around the 0.66145 area. After reaching the daily support at that zone, there may be a retest of the Fibonacci level 23.6% before continuing to rise towards the Fibonacci level 78.6% at the 0.67567 area. 🎯📉📈 💡 Traders should closely monitor these technical indicators and price movements to make informed decisions in their trading activities. Remember to apply risk management strategies and exercise caution when trading the financial markets. ⚠️👀📉📈
Long
by Moon_SmartMoney
4
CADCHF Will Go Up! Buy! Take a look at our analysis for CADCHF. Time Frame: 6h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is trading around a solid horizontal structure 0.649. The above observations make me that the market will inevitably achieve 0.655 level. P.S The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce. Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
CADCHF - Watch For Breakout!Following on from our last CADCHF post, which resulted in a full TP of 900pips, we have found another great opportunity. We are currently in wave 4, which appears to be a ABC correction. We are looking to trade the C leg of wave 4. We anticipate that wave B has completed therefore we can use the lows of wave B as invalidation level for our bullish trade. Trade idea: - Watch for bullish price action and enter - stop loss below wave B completion (basically the lows) - Target: 6.8 (300pips) but do actively manage your positions as we move higher. See our last CADCHF post here: Goodluck and as always, trade safe!
by WicktatorFX
2
CAD/CHF WAITING FOR SHORT TRADEOn CAD/CHF, we have a bearish setup: there's a trendline supporting the price decline. The price at the level of 0.6540 has broken the low of July 21st, and what I expect is a retest of the break, and if there are operational confirmations, one could consider opening a short position. Personally, I don't have a strategic operation in this exchange. What I see is a truly strong Swiss franc in the last month, with a weak Canadian dollar, which is further amplified by a weak US dollar. This morning, the price broke another demand zone, supporting a bearish view. Tonight, we have the Fed rates, so keep an eye out for potential volatility. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
Short
by Forex48_TradingAcademy
2
CADCHF - 4hrs ( Buy Trade Target Range 140 PIP ) Pair Name : CAD/CHF 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Reversal 0.65000 Area Reasons - Major Turn level - Visible range lvn - Liquidity Zone - Fibo Golden - Quarter's Area Bearish Reversal 0.66200 Area Reasons - Major Turn level - Fixed Range Lvn - Visible range Value - Visible Range lvn - Month Low Area
Long
by GoldenEngine
6