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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CHFCAD trade ideas
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!
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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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DeGRAM | CADCHF downturn in the channelCADCHF is moving in a descending channel under dynamic resistance.
The price dropped under the level coinciding with the 62% retracement level of the last bullish impulse.
We expect the decline to continue.
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CADCHF: Bearish Outlook Explained 🇨🇦🇨🇭
CADCHF pair broke and closed below a solid intraday horizontal support.
After a violation, the market retested the broken structure and started to consolidate.
A bearish breakout of a support line of a consolidation range gives us a strong bearish confirmation.
It increases the probabilities that the fall will continue.
Goals: 0.6587 / 0.6567
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