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Cadchfforecast

CADCHF testing major support, prepare for a potential bounce! CADCHF is testing major support at 0.7716 (Fibonacci retracement, horizontal overlap support, bullish price action, bullish divergence) and a strong bounce could occur at this level to push prices all the way up to major resistance at 0.7851 (Fibonacci extension, horizontal swing high resistance). Stochastic (55,5,3) is seeing major support above 6.4% where a corresponding bounce could occur. We are also seeing bullish divergence vs price signalling that a bounce could be impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
CADCHF dropping nicely, potential for further drop!CADCHF has broken major support-turned-resistance level at 0.7809 (Fibonacci retracement, horizontal overlap resistance) and remains below our Ichimoku cloud signalling that there is bearish momentum. Our next resistance is at 0.7830 which is above our 61.8% Fibonacci retracement and also at a swing high resistance. Price could potentially drop all the way to major support at 0.7714 (Fibonacci retracement, horizontal overlap support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
CADCHF remain bullish after channel exit Intro: CADCHF has made a bullish exit from its long term channel, we maintain our bullish bias unless it reintegrates. Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from bearish to bullish. The important change we’re seeing today is that intermediate ascending support on RSI is starting to provide the bounce required for price to rise further. We look to buy above 0.7400 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7493 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) has also made a bullish exit of its long term descending resistance-turned-support line signalling a corresponding change in momentum too. Intermediate ascending support line shows we might be seeing a bounce soon.
Long
by MEX_Exchange
2
CADCHF bullish channel exit, time to buyIntro: CADCHF has made an exit of its channel signalling a change in momentum, and also providing a great opportunity to buy. Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493. Reason for the trading strategy (technically): Price has made a bullish exit of our long term descending channel signalling that we’re likely to see a change in momentum from bearish to bullish. We look to buy above 0.7400 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7493 resistance (Fibonacci retracement, horizontal overlap resistance). RSI (34) has also made a bullish exit of its long term descending resistance-turned-support line signalling a corresponding change in momentum too.
Long
by MEX_Exchange
2
CADCHF has made a bullish exit, potential for a mega reversal!CADCHF has made a bullish exit of its long term descending channel, this is a huge sign for a potential bullish reversal. Our 1st support is at our breakout level of 0.7386 and we can see two major resistance levels at 0.7439 (Fibonacci retracement, horizontal overlap resistance) and 0.7469 (Fibonacci retracement, horizontal overlap resistance). RSI (55) has also made a corresponding bullish exit from its long term descending resistance-turned-support line signaling that there could be a strong shift in momentum from bearish to bullish. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Long
by Tickmill
2
CADCHF remain bearish but watch for potential channel breakSell below 0.7404. Stop loss at 0.7446. Take profit at 0.7318. Reason for the trading strategy (technically): Price is now testing major resistance at 0.7404 (channel resistance, horizontal overlap resistance, Fibonacci retracement) but we’re also seeing that it might be breaking out of our long term descending channel so we have to be careful and monitor price movement. If price starts reacting off our selling area and reintegrates nicely into the channel, then we can expect a further push down towards 0.7318 support (Fibonacci extension). RSI (89) sees a long term descending resistance line hold the bearish momentum in price really well. However we can also see that there is a chance that it is starting to break out so we have to exercise caution and monitor it closely.
Short
by MEX_Exchange
CADCHF testing major resistance, remain bearish for a dropSell below 0.7470. Stop loss at 0.7528. Take profit at 0.7376. Reason for the trading strategy (technically): Price is in a strong descending channel and approaching channel resistance once again. We look to sell below 0.7470 resistance (Fibonacci retracement, channel resistance, horizontal overlap resistance) for a further push down to 0.7376 support (Fibonacci extension). Stochastic (34,5,3) is seeing major resistance below 96% where we expect a corresponding reaction from.
Short
by MEX_Exchange
CADCHF forming a major reversal, keep an eye out!Price is forming a really strong potential reversal signal at 0.7876 (76.4% Fibonacci retracement, bearish bat formation, horizontal swing high resistance, bearish divergence) and a strong reversal could occur at this level to potentially drive price down to 0.7810 before 0.7738 (61.8% Fibonacci retracement, horizontal swing low support). Our next major level of resistance is at 0.7916 (Fibonacci extension, above swing high resistance). Stochastic (34,5,3) is seeing major resistance below our 97% level of resistance and also sees strong bearish divergence vs price signaling that a reversal is potentially impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
2
CADCHF forming a major reversal signal, time to sell Sell below 0.7879. Stop loss at 0.7965. Take profit at 0.7732. Reason for the trading strategy (technically): Price has formed a bearish bat formation and also sees strong resistance at 0.7879 (Fibonacci retracement, horizontal swing high resistance, bearish divergence) and we expect to see a strong reaction off this level to push price down to at least 0.7732 support (Fibonacci retracement, horizontal swing low support). Stochastic (34,5,3) is seeing major resistance at 97% and also bearish divergence vs price signalling that a reversal is impending.
Short
by MEX_Exchange
2
CAD/CHF gradually moves to southCAD/CHF 4H Chart: Channel Down The Canadian Dollar is trading against the Swiss Franc in a three week long descending channel that represents a rebound of the currency exchange rate from the upper edge of a dominant long-term ascending channel. Over the previous week the Loonie depreciated against the Franc by 1.16%. A rebound from the monthly R1 at 0.7786 indicates that now it will try to restore lost positions and get back to the 0.7885 level. There is a high chance that the pair is going to fail to do that due to combination of the 100- and 200-hour SMAs as well as the weekly PP at 0.7858. Regardless of the result, in larger perspective the currency rate is projected to continue to move in the southern direction, aiming to reach the bottom edge of a dominant ascending channel.
by UnknownUnicorn890690
1
CAD/CHF 1H Chart: Channel Up CAD/CHF 1H Chart: Channel Up The Canadian Dollar is trading against the Swiss Franc in a two week long ascending channel. Up until Tuesday the currency pair moved relatively smoothly within the figure. However, then it suddenly failed to break through a combination of the weekly and monthly PP, which were supported by the 55- and 100-hour SMAs. As a result, it was forced to retreat to the top and to move along the moving averages, which has led to transformation of the channel into a rising wedge. If the latter pattern actually guides movement of the currency pair, then it should successfully bypass the weekly R1 at 0.7720 and make breakout from the pattern somewhere around the 0.7740 mark.
by UnknownUnicorn890690
What say you, Swiss Franc?From the previous two trading session, the Swiss Franc descended strongly against its major Forex currencies. An acquaintance of mine has told me that although no news of it was there, it seems that the SNB (Swiss National Bank) has intervened with the Swiss. When I started stock and forex trading, I've already heard rumors and sayings that the Swiss Franc is a 'controlled currency.' Several Swiss Franc pairs have reached several resistance/support; after two days of intense decline on the currency, I'm expecting some pullback where it may give a better entry position to be able to enjoy the ride!
Long
by bearvsbullmarket
Short CADCHF Longterm based on 4H ChartBrief overview: Looking at the CADCHF over multiple timeframes, I believe there is an opportunity to short this pair. After the recent rally on the 4H chart, we can see price was met with a strong resistance and dropped back down to a recent support level. We have downward momentum on multiple timeframes and I'm waiting for confirmation before activating this trade. Note: I have decided from here on, not to disclose my detailed analysis, entry/exits or stops publicly. Therefore, any upcoming trade ideas will include only a brief overview as above. This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits. Please comment below and Like if you agree with my analysis.
Short
by AEFX786