CADCHF - 2 scenarios ✅Hello traders!
‼️ This is my perspective on CADCHF.
Technical analysis: As we can see here price is in a range for the last couple of weeks. I have 2 scenarios here, if price rejects from resistance I expect downside move to support, but if price breaks the resistance with bullish candle on daily, I will look for a buy.
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CADCHF trade ideas
CADCHF - 4hrs ( Buy Trade Target Range 140 PIP ) ☑️Pair Name : CAD/CHF
🗨Time Frame : 4hrs Chart / Close
➕Scale Type : Large Scale
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✔️ Key Technical / Direction ( Long )
Type : Mid Term Swing
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⚙️Bullish Break
0.66900 Area
Reasons
- Major Turn level
- Channel Break / Middle Band
- Traingle Break
- Visible Range Hvn Area
- Quarter High Area
- Day / Week High Break
- Fibo Golden
⚙️Bearish Reversal
0.68300 Area
Reasons
- Major Turn level / D
- Pattern Target
- Major Channel Upper Band
- Fibo Golden Zone 1.618 %
- Choch Zone
- 2 Quarter High Area
CADCHFBias Bullish.
NB: cad news later on which could potentially take out lows below. Overall expecting price to distribute higher to the Asian highs. There could be an entry after the news. Previous Weekly highs are the ultimate target.
The psychological part of trading is what makes it difficult. If you able to work on yourself (all other factors constant) it could be liveable.
Potential bearish drop?CAD/CHF is rising towards the pivot which has been identified as a pullback resistance and could potentially fall to the 1st support.
Pivot: 0.66890
1st Support: 0.66482
1st Resistance: 0.67215
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CADCHF at an interesting spot. Watch out for CAD data this week!#CADCHF EASYMARKETS:CADCHF
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Could CAD/CHF drop from here?Price is rising towards a resistance level which is slightly above the 161.8% Fibonacci extension and could potentially drop from this level to our take profit.
Entry: 0.66883
Why we like it:
There is a pullback resistance level which is slightly above the 161.8% Fibonacci extension.
Stop loss: 0.67211
Why we like it:
There is a pullback resistance level which aligns with the 127.2% Fibonacci extension.
Take profit: 0.66482
Why we like it:
There is an overlap support level.
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CADCHF: The Harmonic Pattern Can Push CADCHF Up AgainCADCHF: The Harmonic Pattern Can Push CADCHF Up Again
Today CADCHF completed a small harmonic pattern on the 60 min chart.
The price stopped and reacted well.
This is raising the chances for a bullish wave in the coming days.
We have to consider that 0.6600 is also a strong psychological area and it adds more value
to our analysis.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
CADCHF SHORT/SELLHello traders
CADCHF is another trade I'm looking at
* Ending structure forming (B wave with 5 waves)
* MACD divergence
* ORDER BLOCK @ 0.67200 level
* Unfilled gaps at the bottom
* CHF CPI News on Thursday (04/04/2024) MIGHT BE THE TRIGGER
ENTRY: 0.67200
STOP LOSS: 0.67380
TAKE PROFIT: 0.65346
CADCHF Will Move Lower! Short!
Here is our detailed technical review for CADCHF.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 0.660.
Taking into consideration the structure & trend analysis, I believe that the market will reach 0.656 level soon.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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