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Cadchfforecast

CADCHF - BULLISH BIASCAD - BULLISH 1️⃣ Prime Minister Trudeau unveiled a plan to help the economy recovery from the coronavirus fallout, including a commitment to extend wage subsidies until next summer, and support for industries hardest hit by the pandemic. 2️⃣ The upbeat market mood at the start of the week seems to be making it difficult for the safe-haven USD to find demand. CHF - BEARISH 1️⃣ Swiss National Bank kept interest rates steady and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc. ===== TECHNICAL ===== - We are looking to long CADCHF on RBS level + SMA100 area on H1 chart. - CADCHF in bullish zone.
Long
by MonsunAsia
CADCHF - BULLISH BIASCAD - BULLISH 1️⃣ The Canadian dollar appreciated further, supported by higher oil prices and a weaker dollar. 2️⃣ News that Novavax Inc had reached an agreement with the Canadian government to supply up to 76 million doses of its experimental coronavirus vaccine lifted investors’ sentiment. 3️⃣ The Fed’s dovish signal, the risk-on mood continued weighing on the buck. CHF - BEARISH 1️⃣ The global risk sentiment remained well supported by hopes of a potential vaccine and treatment for the COVID-19 virus. This coupled with a positive trade-related development further boosted investors' confidence. ===== TECHNICAL ===== - We are buying this pair on RBS level + SMA100 area + pivot point level on H1 chart. - CADCHF in bullish zone. ===== RISK TO THIS TRADE ===== - This trade will hit stop loss if market sentiment turns to risk-off and oil prices going down.
Long
by MonsunAsia
CADCHF, daily tf, sell on break of ascending supportHello my friends, I hope you all enjoyed weekend. I just checked some pairs for September trading plan and this pair looks very interesting to me. This pair not yet filtered by my screener but i think it will soon come to my sell position screener. What i am waiting for now, is a confirmation that price break below the ascending support line with a solid candle close. The moment that parabolic SAR indicator switch from below to above the price, it will fully confirm to take sell positions. Notice also there is a possibility bearish divergence forming on stochastic. I posted this in advance to let my fellow friends know it before hand so we will take sell position together when it confirmed. As long as price holding above the support then we will not take sell position yet. Only sell when we got our confirmation. The trade will look like this when it is active Sell CADCHF @0.6870 Stop loss @0.6955 Take profit 1 @0.6765 Take profit 2 @0.6670 RR ratio is 1 : 2,35 Use only 1-2% risk Good luck
Short
by HayatoDragonFX
CADCHF H1 SHORT PRICE ACTION FORECAST After the price action reaching the supply zone, and getting a rejection from sellers, we could expect a downward movement back to the demand zone. This consolidation within the channel allows the setup of a short order to capture the pair's forthcoming downtrend. The order: Type: sell-stop S/L: 18 pips - R:R | 1:2 - T/P: demand level -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADCHF H4 LONG PRICE ACTION FORECAST With the price action trading within an ascending channel, the bullish bias exists. Allowing the setup of a long entry to capture the upward momentum towards the channel's resistance level. Expecting a pullback to trigger the buy limit entry The order: Type: buy-limit S/L: 18 pips - R:R | 1:3 - T/P: resistance level -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADCHF H4 LONG PRICE ACTION FORECAST With the pair in a clear uptrend in three consecutive trading sessions, following the ascending trendline as support, I could expect a retest of the level to continue is bullishness towards the next resistance level. It allows the setup of a long entry as a limit. The order: Type: sell-limit S/L: 23 pips - R:R | 1:3 - T/P: as shown -- *** If you like the idea, don't be shy, click on like and comment. If you disagree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADCHF | MY PERSPECTIVE FOR THE WEEKDespite the Bullish run (Corrective move) from late July 2020; The anticipation of negative numbers and economical dent from Unemployment rate and Net Change in employment was not a convincing yard for a continuing rally. Price broke out of my Key level in the beginning of the week only to Break down and close below this level in the latter part of the week inciting a much good reason for Buyers to step aside for a better deal in the following week(s). Tendency: Downtrend ( Bearish ) Structure: Retracement | Trendline | Breakdown Observation: i. The fall of price that began mid-July appears to continue its second phase of decline after completing a correction into 61.8 retracements of impulse leg. ii. Breakdown of my Key level @ 0.68300 is enough signal for me to consider Bearish bias this coming week. Trading plan: SELL confirmation with a minimum potential profit of 120 pips. Risk/Reward: 1:2.5 Potential Duration: 3 to 10 days NB: This speculation can be considered to make decisions on lower timeframes. Watch this space for updates as price action is been monitored. NirvanaForex Risk Disclaimer: Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Short
by darcsherry