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Cad-chf

CADCHF bounced nicely off support, potential rise!CADCHF bounced nicely off its support at 0.7568 (50% Fibonacci retracement, 61.8% Fibonacci extension, horizontal overlap support) where price could potentially rise to its resistance at 0.7685 (38.2% Fibonacci retracement x2, horizontal overlap resistance). Stochastic (89, 5, 3) is approaching support at 5$ where a corresponding rise could occur. We have also identified a bullish divergence with price which contributes to our bullish bias.
Long
by ICmarkets
CADCHF testing resistance, potential drop!CADCHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where price could potentially drop to its major support at 0.7480 (horizontal swing low support, 61.8% Fibonacci retracement , 61.8% Fibonacci extension ). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (55) is also approaching resistance where we will see a corresponding drop in price.
Short
by ICmarkets
1
CADCHF Testing Resistance, Prepare For A DropSell below 0.7610. Stop loss 0.7679. Take profit at 0.7480. Reason for the trading strategy (technically): CADCHF is testing its resistance at 0.7610 (horizontal pullback resistance, 23.6% Fibonacci retracement) where we expect price to drop to its major support at 0.7480 (horizontal swing low support, 61.8% Fibonacci retracement, 61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias. RSI (55) is also approaching resistance where we will see a corresponding drop in price.
Short
by theforexarmy
CAD/CHF 1H Chart: Triangle spotted on chartCAD/CHF has been trading in a triangle-like formation since early May. Its upper boundary is formed by a trend-like, while the bottom one—is a one-month support/resistance level at 0.7713. The strong hourly plunge on May 18 resulted in a breakout of the dominant three-month channel at 0.7790. The Loonie has since returned to its lower boundary and the 200-hour SMA at 0.7810. It seems that the pair might actually push even higher during the following trading session up to the aforementioned trend-line near 0.7840. In addition, the positioning of technical indicators also demonstrate that there is still some short-term potential to the upside. By and large, the rate is expected to remain within the triangle, thus reversing near 0.7840 and initiating a new medium-term decline down to 0.7610.
Short
by UnknownUnicorn890690