CHFCAD trade ideas
CADCHFwe are seeing price broke from the 61.8 Fibonacci level and went again to retest, the uptrend line was also broken
price is also undre the EMA and SMA moving averages we expect it to continue more down
CADCHF - 05/11/2020We will wait to see how the market opens on monday; if see price above 0.96801 we go long else if we see price below 0.69562 we go short with caution as the potential level is pretty close to the entry and would be tight.
RSI has shown an indication of upward exhaustion.
CADCHF at a major level ,lets look at the price reactionCADCHF is rallying towards a major buy zone , although the rally is very strong , but that level is strong too , if the price reacts and creates a pattern like engulfing , pinbar , hammer - we can take a entry , with a minimum 1 : 4 risk reward ratio
Don't miss the great buy opportunity in CADCHFTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.6905). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 0.6978
TP2= @ 0.7045
TP3= @ 0.7145
SL= Break below S2
cad chf Break the rectangle expect upwardsOn the daily time range, the pair is proceeding according to a bullish channel
Don't miss the great buy opportunity in CADCHFTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.6820). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 0.6940
TP2= @ 0.7123
TP3= @ 0.7265
SL= Break below S2
Don't miss the great buy opportunity in CADCHFTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.7290). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 46.
Take Profits:
TP1= @ 0.7325
TP2= @ 0.7382
TP3= @ 0.7424
SL= Break below S2
CAD/CHF analysisThis is in the range bound movement.
It will bounce from the support & moves in positive direction.
Hence, it will be bullish further.
Don't miss the great sell opportunity in CADCHFTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.7488). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. CADCHF is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. The RSI is at 35.
Take Profits:
TP1= @ 0.74300
TP2= @ 0.73800
TP3= @ 0.72700
SL: Break Above R2
CADCHF market down head and shoulder pattern formmarket going to down target 1 -- 0.74972
target 2 -- 0.74532
Now Short Position for CADCHF Price bounced from upper level. After this supply area first destination of the price is previous demand area.
