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CADCHF trade ideas

CADCHF Testing the 1D MA50. Sell opportunity.The CADCHF pair has been on a strong 2-week rise after the 1D RSI turned oversold (below 30.00) that is testing today the 1D MA50 (blue trend-line) for the first time in 1 month (since May 31). Since the dominant long-term pattern has been a 18-month Channel Down, we expect this 1D MA50 test to deliver a rejection similar to November 03 2023, and resume the new Bearish Leg. Our Target is purely symmetrical at 0.63100 (Support 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
CADCHF Will Move Lower! Sell! Take a look at our analysis for CADCHF. Time Frame: 1D Current Trend: Bearish Sentiment: Overbought (based on 7-period RSI) Forecast: Bearish The price is testing a key resistance 0.656. Considering the today's price action, probabilities will be high to see a movement to 0.644. P.S Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all. Like and subscribe and comment my ideas if you enjoy them!
Short
by SignalProvider
1
Falling towards 23.6% Fibonacci support?CAD/CHF is falling towards the pivot and could potentially bounce to the 1st resistance. Pivot: 0.65290 1st Support: 0.64969 1st Resistance: 0.65874 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Long
by ICmarkets
3
CADCHF : GROING APPETITE FOR RISK- The market was trading below a bearish trendline for a month ; the short-term trend was then bearish. - In mid-June, and with the establishment of a new low above 0.6435, the market has registered a sharp rebound. Investors' appetite for risk suddenly grew, and FX safer havens such as CHF and JPY currencies have been fled from traders. The market accelerated on the upside and broke-out the short-term bearish trendline. Both moving averages are now bullish, as dynamic support to the market, while the DMI indicator displays a strong bullish pressure inside a more and more directional price action. - All the above technical signs combined with the fact the market is now registering a new short-term high, makes us think a new bullish trend is on its way here. The next targets are given by the Fibonacci retracement of last bearish trend : 0.6570 (50%), 0.6600 (61.8%, 0.66475 (78.6) and 0.6705 (100%). Meanwhile, strong support levels have also been around 0.6530 and 0.6495. Pierre Veyret, Technical Analyst at ActivTrades The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
Long
by ActivTrades