Price is at an area of resistance at 0.69656.
Price has been bouncing off the support rend line. Due to the recent rejection of the support trend line, I believe the price could break through the resistance level (0.69656) and reach 0.70388. Before taking a long position, I will ait for clear confirmation of a breakthrough of the resistance level.
However, the...
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.6920).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
The price is currently trapped in this Symmetrical Triangle. Let's wait for a breakout to go long or short.
Always keep in mind it is a game of probabilities.
CADCHF is displaying an ascending channel since September 21st. We can see price ranging upward between these two support and resistance channel lines.
Currently, the price is at the 200 EMA. There is a single 4H bullish candle forming at the 200 EMA which is s slight sign of bullish rejection here. This suggests that we could see price reject at the 200 EMA and...
After breaking the ascending triangle we began to see bearish momentum but that soon slowed down and now it looks like the price has failed to continue the downside and we are in the process of a structural shift indicating a potential buying opportunity.
COT DATA - 55% Short
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.6925).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CADCHF is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
Hey Traders, here is the full breakdown analysis for CADCHF, let me know your thoughts below!
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Last 2 week candlestick of CADCHF shows a bearish engulf indicating the pair likely to continue falling. However, this fall will be halted as price approaches 0.68500. A rejection at this level may see CADCHF testing 0.70000 level again.
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
Weak oil = weak CAD and oil is weak right now, its important we look at the legs of pairs, and CHF has been looking strong therefore this makes up for a great trade theoretically speaking.
Technicals are also looking very clean, break of the ascending TL, making a new lower high and a lower low, I believe price will come into the 61.8 fib level as this was where...
