CADCHF Buy SetupCADCHF Details on the chart.
Waiting for a 4 hour break and close above the weekly price reversal zone, resistance zone & 50% fib for confirmation.
Happy Trading!
Cad-chf
CADCHF Testing Resistance, Potential ReversalCADCHF is testing its resistance at 0.7550 (61.8% Fibonacci extension, 38.2% Fibonacci retracement, horizontal overlap support) where price could drop to its support at 0.7399 (horizontal swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 95% where a corresponding reversal could occur.
CADCHF Approaching Support, Potential Bounce!CADCHF is approaching its support at 0.7432 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap support) where price could bounce up to its resistance at 0.7609 (38.2% Fibonacci retracement, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its support at 3.03% where a corresponding bounce could occur.
CADCHF heading down to .74 areaBeautiful break of up trendline and in a down trending channel. Today price retested the upper downtrend channel resistance and now flowing down. This Pair from last week it has a very unique pattern, wiith in the downtrend channel when ever price spike up bears just grab and bring this down to fib 100% extension. This Week's spike is no different, failed spike and now its flowing down
CADCHF - LongFX:CADCHF is at support level
the CHF is a strong currencie today but this level of 0.7565 prooved to be a good support
Also price rejected this level
Im going long
Updates will be available
CADCHF reversed nicely off resistance, potential drop!CADCHF reversed off its resistance at 0.7613(61.8% Fibonacci extension, 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 0.7569 (horizontal swing low support).
RSI (89) is held down by a descending resistance line and the ichimoku cloud shows signs of downward pressure which contributes to our bearish bias.
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.
CADCHF ShortAs we can see from the diagram, a nice Head and Shoulders pattern unfolding on the Daily timeframe on this pair. BoC's hawkishness provided us the spike up today to form the right should and the price was stopped at old broken support that has now become resistance. Moreover, the price is capped on the topside by the 200EMA. We also have the bearish crossover on the MACD.
I expect the price to move down over the coming days.
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.
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.
CADCHF approaching support, potential bounce! CADCHF is approaching our first support at 0.7610 (horizontal swing low support, 38.2% Fibonacci retracement, 100% Fibonacci extension) where price might bounce above this level and potentially rise to our first resistance at 0.7696 (horizontal swing high resistance, 50% Fibonacci retracement).
Stochastic (21,5,3) is also seeing a bullish divergence in where we might see a corresponding rise in price.
CADCHF 4HR Short Channel Trade what we see:
Price had been on a bullish run, followed by a quick double top at 0.7877 level.
We have then printed repeated lower highs, breaking the 4hr bullish trend line.
The trade is simple, we wait for the pull back into the next lower high and we short to the 71.8% fib level where previous Supply and Demand was found.
CADCHF approaching support, potential bounce! CADCHF is approaching our first support at 0.7722 (horizontal overlap support, 23.6% Fibonacci retracement) where price might potentially rise to our first resistance at 0.7818 (horizontal swing high resistance, 76.4% Fibonacci retracement).
Stochastic is also approaching support where a bounce off this level might see a rise in price.
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.
