Trade Rationale: The CAD/CHF pair is currently showing signs of short-term bullish momentum, presenting a potential trading opportunity. The Canadian Dollar (CAD) has displayed strength against the Swiss Franc (CHF), indicating a possible upward movement in the exchange rate. Technical Analysis: Support Levels: The pair has found support at a key level,...
SLO @ 0.9085 TP4 @ 0.9070 TP3 @ 0.9020 TP2 @ 0.8915 TP1 @ 0.8850 BSO @ 0.8785 The USDCHF pair has historically held the highest rated positive correlation to the DXY. The correlation coefficient between these two pairs is typically around +0.90, which means that they move in the same direction most of the time. This is because the Swiss Franc is seen as a safe...
USDCHF - 24h expiry Our short-term bias remains positive. Intraday dips continue to attract buyers and there is no clear indication that this sequence for trading is coming to an end. 50 4-hour EMA is at 0.8769. The sequence for trading is higher highs and lows. Remains bullish while above last week's low. We look to Buy at 0.8771 (stop at 0.8739) Our...
The EURCHF pair eventually hit our 0.95555 bearish target as set by our sell signal in June (see chart below): The price is now past a 1D MACD Bullish Cross and on the bullish wave of the 7 month Channel Down. We therefore go long again targeting Resistance 1 at 0.96510 on the short-term and if a 1D candle closes above it, we will extend it towards the 1D...
Hey Traders, in today's trading session we are monitoring EURCHF for a selling opportunity around 0.96300 zone, EURCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.96300 support and resistance zone. Trade safe, Joe.
Hey Traders, in today's trading session we are monitoring USDCHF for a selling opportunity around 0.88300 zone, USDCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.883 support and resistance zone. Trade safe, Joe.
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USDCHF posted a green weekly Heiken Ashi candle. This suggests to me that it may post another next week. A green daily Heiken Ashi candle was posted after a red candle on the daily time frame. This is the second signal I require to make an entry.
Hey Traders, in today's trading session we are monitoring GBPCHF for a selling opportunity around 1.11600 zone, GBPCHF is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 1.11600 support and resistance zone. Trade safe, Joe.
The price has been moving downward for some time now and completing the 3rd wave based on Elliot waves theory .. what we see as a spike is more like the price giving out its last sellers .. now needs to correct .. and then continue its way down. I don't think the 5th wave will go down below the 3rd wave, or if it goes, it wouldn't be too much .. we are at the...
The Swiss franc may use it's value in next days. There is strong pressure in market for the currency. Mostly because of technical reasons. Rising pairs like CADCHF are much more probable here. Just be a little more cautious about CADCHF! Cad is highly co-related to the oil!
I see some divergence on the daily and I want to see if it carries into the 4 hour. We just broke a low and I still believe in AUD and NZD strength. Just want to see if price can retrace the previous highs. The homerun would be price reaching the top white dot but the odds could be slim. Will update when I can.
Good morning traders, As anticipated, we observed a retracement in the GBPCHF pair. A rising wedge pattern has subsequently materialized, and a recent downside breakout confirms this formation. The prevailing market sentiment remains bearish. On the 1-hour timeframe, all moving averages are aligned with our perspective, and the majority are consistent on the...
8th August 2023 DXY: break above 102.40 to trade higher toward 102.80 resistance NZDUSD: Sell 0.6050 SL 20 TP 60 AUDUSD: Sell 0.6510 SL 25 TP 45 USDJPY: Buy 143.20 SL 30 TP 60 GBPUSD: Sell 1.27 SL 25 TP 90 EURUSD: Sell 1.0960 SL 20 TP 40 USDCHF: Wait, look for reaction along 0.88 USDCAD: Sell 1.3360 SL 30 TP 60 Gold: break 1930, below 1929, could see 1924
Lat week we saw USD/CHF pull back from the 0.8800 area, after its rally stalled around 0.8800, the 50-day EMA and failed to rest the May low. Prices have drifted higher during Monday's Asian session, but seemingly hesitant to break above the 2021 low. The bias remains bearish beneath last week's high and for a move to 0.8600. Who knows, if US CPI comes in soft...
NZD/CHF is making a pullback after the retest of the broken key level of 0.535 and as the pair is in the downtrend I think that we will see a further move down next week.
USD/CHF will soon retest a key resistance level of 0.886. So I think that the pair will make a pullback and go down to retest the demand level below at 0.872.
EUR/CHF is trading in a downtrend below a falling resistance so I think that after the retest we will see a move down.