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CAD (Canadian Dollar)

CADCHF HigherTrying CADCHF higher here. We've recently broken out of the 100 DMA which has been a good indicator of trend for a while. I think the narrative has changed, CAD is doing well with a hawkish BoC and a good economy while i think that the SNB could disappoint on Thursday. CHF has been bought for a while on the basis of global growth worries which i think subsided a little recently with new china stimulus and overall global economies not rolling over in terms of hard data. Oil is mixed and but not suggesting lower either. rate differentials are pointing higher which should help. sentiment is starting to move higher and positioning is still fairly short on CAD which should help the move higher as well. Not trading/investment advise, feedback welcome!
Long
by Spinning_
CADCHF: Top of the 1 year Channel Down. Sell opportunity.CADCHF is approaching the top of the Channel Down pattern since May 2022, which is a little lower than the 1D MA200. The 1D technicals have turned green (RSI = 58.741, MACD = 0.003, ADX = 49.805), which indicates that we are entering the long term sell zone. The ideal sell confirmation will be after the 1D MACD makes a Bearish Cross. We will after the Cross is completed and target the LL trendline (TP = 0.63000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
3
CADCHF → Price is squeezing to 0.68000FX:CADCHF is forming a trend change. On the chart, we see an upward price channel, within which the price rests against the key resistance at 0.68000. What can we expect from the price in the nearest future? Resistance at 0.6800 has been forming since the end of March and has numerous confirmations. We can interpret the price squeeze to the level as consolidation of the buyers and gradual readiness of the market to break through this area in order to strengthen the price. Earlier there was a false breakdown of the trend support, after which the price forms an active bullish impulse. Support levels: lower trendline, MA-50, 0.67630, 0.67194. Resistance levels: 0.68030, 0.69312 I expect that gradual rise in price to the resistance level after the next retest will break this area and the bulls will be able to continue the growth with the aim to reach the level of 0.69312. Regards R.Linda!
by RLinda
18
CAD/CHF : A Long Setup Opportunity 📈Hi everyone!:) - Looking at the weekly charts, there's a strong upward trend that's also showing on the daily charts. This tells us the overall trend is quite bullish. - If we look at the 4-hour charts, there's a good break above a key monthly pivot point level at 0.67768. - On the 1-hour charts, we see a bullish engulfing candlestick closure, which also suggests an upward move. - But be careful of the 0.68000 mark. This is a level that a lot of traders might be looking at. So, keep an eye on it and make sure to manage and adjust your risk in case things turn around. good luck!:)
Long
by fxtraderkristina
CADCHF Potential DownsidesHey Traders, In today's trading session, our focus is on the CADCHF currency pair, specifically looking for a potential selling opportunity around the 0.68400 level. CADCHF is currently experiencing a downtrend and is presently in a correction phase. During this correction, the pair is approaching a significant support and resistance zone at the 0.68400 level, which could act as a crucial level for determining the pair's future direction. It is worth noting that this week, the Swiss National Bank (SNB) is holding a meeting, which makes it an event to watch closely. Market participants will be interested in any announcements or measures taken by the SNB to combat the depreciation of the Swiss Franc (CHF). The SNB's actions can potentially influence the CADCHF pair, as efforts to strengthen the CHF might contribute to a resumption of the downtrend in CADCHF. By keeping an eye on the SNB meeting and its impact on the CHF, traders can gain insights into potential movements in the CADCHF pair. If the SNB takes steps to bolster the CHF, it could potentially weigh on the Canadian Dollar (CAD) and contribute to a continuation of the existing downtrend in CADCHF. Therefore, it is important to monitor the SNB meeting and its potential effects on the CHF, as this could provide valuable information for assessing the future direction of the CADCHF pair. Trade safe, Joe.
Short
by JoeChampion
12
CADCHF - Looking For Sell Setups ↘️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. CADCHF is overall bearish trading inside the falling broadening wedge pattern in red, and it is currently sitting around the upper trendline. Moreover, the zone 0.68 is a resistance zone. 🏹 So the highlighted purple circle is a strong area to look for sell setups as it is the intersection of the blue resistance and upper red trendline. As per my trading style: As CADCHF approaches the purple circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
5
CADJPY Potential UpsidesHey Traders, In today's trading session, our attention is directed towards CADJPY, as we closely monitor a potential buying opportunity around the 103.900 zone. CADJPY is currently displaying an upward trend and is approaching a critical support level at 103.900, which holds significant importance. Furthermore, we are factoring in the latest development of an unexpected and hawkish rate hike by the Bank of Canada. This unforeseen decision has led to a surge in strength for the Canadian dollar, further adding to the potential attractiveness of considering long positions in CADJPY. Trade safe, Joe.
Long
by JoeChampion
9
CAD/CHF strong upside to come to 0.7303 - But we need to waitInv Head and Shoulders seems to be forming on the CAD/CHF Minor Currency Pair. There is a fight between Canada and Swiss Franc and it looks like Canada is preparing the troops for upside in the chart. We need to wait for the higher low to form (right shoulder). Then for the price to break above the neckline and it will be breaking above the medium term downtrend. 7>21 Price<200 RSI>50 Target 0.7303 INTERESTING FACT! Did you know how the CAD Canadian Dollar got it's nickname - Loonie from/ No not that! lol But I know you're thinking it. The name "loonie" originates from the bird depicted on the one-dollar coin. The common loon, a bird that is widespread in Canada, was selected as the emblem for the coin, leading to the currency's popular nickname. The loonie was introduced in 1987 (my brith year) as a cost-saving measure to replace the one-dollar banknote.
Long
by Timonrosso
CADCHF | BearishThe CADCHF chart is currently exhibiting a pattern of higher highs and higher lows, indicating an uptrend. However, it recently broke its previous higher low (HL), resulting in a change of pattern. The chart is now forming lower lows (LL) and lower highs (LH), which suggests a shift towards a downtrend. Additionally, the CADCHF chart faced rejection or encountered resistance at a strong level twice in recent times. This indicates that there is a significant barrier preventing further upward movement. As a result, the overall trend has shifted downward, suggesting a bearish sentiment for the CADCHF pair. It's important to note that technical analysis is just one aspect of trading, and other factors such as fundamental analysis and market conditions should be considered as well. Traders should use technical indicators in conjunction with other tools and analysis methods to make well-informed trading decisions.
Short
by awaisulabdeen