cadchf shorttwo things to keep in mind :
1.Switzerland is expected to maintain
its ultra-expansive monetary policy
for some time as it is facing the sharpest
downturn since the aftermath of oil price shocks in the 1970s.
2.The SNB President Thomas Jordan
has been reiterating the CB will continue
to intervene strongly in the foreign exchange
market to stop the rise of the highly
valued franc in order to prevent deflation
and protect the export-orientated economy
on the other hand oil market will head down this week and cad with it and gold is rising with chf
so its safe for sometime to keep with the trend here
u need to know your exit by your self
take this trade on your responsibility
Cadchfshort
The correctionFrom the figured of charts, we can see the price was in a bullish trend for a long time, thus the correction will happen when it hit the support line then enter the buying zone and when the price hits below the support line in the period of your retest you can consider it to sell. But on this pair, I strongly suggest buying because of the correction to the market price will happen soon. Thanks
CADCHF Short Now?CADCHF has broken through a weekly support (yellow zone plotted on chart) and has perfectly retested the broken support. The previous support is now acting as resistance. On a daily timeframe, CADCHF is forming a bearish flag pattern (a continuation pattern), indicating that the pair may see further downside.
Price is currently attempting to break the supportive trendline and price is completely bearish on a 4H timeframe, presenting a good opportunity for bears to open short positions now.
Only open a position if you are satisfied that the setup meets your strategy's requirements.
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Best of luck traders!
Daily Update--CAD/CHF-- Big Chat View Forecasting Disclaimer:
the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. this is not signal. it's my opinion. trade your own risk. and Must Follow Money management.
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