Normandy
Short

CADCHF Short Term Trade

OANDA:CADCHF   CAD/CHF
s
Comment: 📉Bear
📈Bull
1 Hour Chart

As of the 10th of August, 2pm GMT, OANDA:CADCHF hasn't been able to reach August 7th's peak. Although the bullish push was strong, it appears to be heading down again continuing the bearish pattern.
(RSI📉Bear)
Overbought
Comment: Initial Ellitowave analysis seems to support this theory, with us currently heading down wave C to being Wave 1.
Comment: Macd just pulled out of an almost 5-day bearish stance since today's push into overbought territory.
Macd📈Bull
Bullish

EMAs are all now switching direction after they've been bearish about 75% of this month, it is to be expected.
EMA 8 16 24 50📈Bull

Keep an eye on this currency pair, I've got a SL at 0.6865, with a TP of 0.655


Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. This is only analysis and is to be used with discretion when it comes to expecting any profit during trading
Comment: If I'm right, we're going to hit between 0.611 and 0.655
Comment: before pushing up to at least a maximum of 0.72 around early November
Comment: , at some point getting to around 0.764 in Jan 2021

Comments

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