CAD/CHF Sell Trade: Navigating Oil Dynamics and Safe Havens

Alright, let's break down this CAD/CHF sell trade. 📉

First off, if you peek at the monthly and weekly charts, you'll notice this pair's still riding the bearish wave. 📊

On the hourly chart, buyers seem to be in control and have pushed the market into overbought territory. 📈

Now, my eye's on two attractive targets: 0.65750 and 0.65000. 🎯🎯

Now, a bit of context: CAD's been on a rally lately, thanks to the surging oil demand. 🛢️ But, I've got a hunch that this momentum might not last much longer.

Why, you ask? Well, CAD's closely tied to oil, and with all the uncertainties in the world, the oil demand might waver. 🌍

And don't forget about the Swiss Franc - it's a safe haven currency, especially in turbulent times. Given the current global climate, I think it's gonna stay strong. 💪

No stop losses this time. I'm playing it cautious with small lots, about .01 for every 1000 USD.

Keep an eye out for updates! 🚀

Comment:

This trade is a long-term trade. It can take up to 6-8 weeks.

Comment:

Trade still valid, still in it.

Comment:

Almost to our first target.

Trade closed: target reached:

Target reached, Closed all trades.

Comment:

All targets hit.

Comment:

Now that we hit our target, I see bullish targets. Maybe I'll post today.