🔍📈 "CADCHF Analysis: Long-Term Perspectives" 📈💼
🕵️♂️ Let's delve into this forex pair and analyze it together on higher timeframes for future trading and long-term perspective.
🕓 In higher timeframes, unlike most other currency pairs currently oscillating within long-term boxes, the Swiss Franc seems to have the upper hand against the Canadian Dollar.
🔍 At present, the Canadian Dollar is experiencing its lowest point against the Swiss Franc in the weekly timeframe, but in lower timeframes, it's attempting to rise. However, this attempt might not succeed, but we don't speculate and simply observe different price actions.
📊 On the daily timeframe, after reaching the last support level of 0.63453, we're witnessing a relatively upward trend in lower timeframes. Recently, it has reached the daily resistance at 0.66879 and is currently consolidating below this price.
📈 For a long position, after breaking the resistance at 0.66879, we can open a long position since there's a possibility of reaching our daily box ceiling, which is the resistance at 0.68277, and we can go along with this trend.
🛡️ For a short position, since we're on a downward trend in higher timeframes, we can enter with two strategies:
📉 Breaking the upward trendline is our continuation signal, where we can act upon both breaking the trendline and breaking the confirmation support trigger at 0.65983.
🔄 Breaking the resistance at 0.66879 and faking it. If the candle closes above this area and the next candle returns back into this space, we'll go to a lower timeframe and upon seeing the break of the first support line, we'll short the pair.
💡 Our upcoming supports are at 0.65983, 0.65415, and 0.64654, while the resistances are at 0.67510, 0.68277, and 0.69322.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.
🕓 In higher timeframes, unlike most other currency pairs currently oscillating within long-term boxes, the Swiss Franc seems to have the upper hand against the Canadian Dollar.
🔍 At present, the Canadian Dollar is experiencing its lowest point against the Swiss Franc in the weekly timeframe, but in lower timeframes, it's attempting to rise. However, this attempt might not succeed, but we don't speculate and simply observe different price actions.
📊 On the daily timeframe, after reaching the last support level of 0.63453, we're witnessing a relatively upward trend in lower timeframes. Recently, it has reached the daily resistance at 0.66879 and is currently consolidating below this price.
📈 For a long position, after breaking the resistance at 0.66879, we can open a long position since there's a possibility of reaching our daily box ceiling, which is the resistance at 0.68277, and we can go along with this trend.
🛡️ For a short position, since we're on a downward trend in higher timeframes, we can enter with two strategies:
📉 Breaking the upward trendline is our continuation signal, where we can act upon both breaking the trendline and breaking the confirmation support trigger at 0.65983.
🔄 Breaking the resistance at 0.66879 and faking it. If the candle closes above this area and the next candle returns back into this space, we'll go to a lower timeframe and upon seeing the break of the first support line, we'll short the pair.
💡 Our upcoming supports are at 0.65983, 0.65415, and 0.64654, while the resistances are at 0.67510, 0.68277, and 0.69322.
😊 If you'd like me to analyze a specific coin or currency pair, be sure to comment so that I can allocate the next analysis for you!
⚠️ Also, please remember that I'm just an analyst, and this isn't financial advice. We're here to stay in the market and maximize profits by adhering to risk and capital management principles.