CADCHFWe can attempt to buy CADCHF as it break LH , trendline resistance , also there is bullish divergence indicate that it moves upward.
SL , TP mention in chart.
SWISS FRANC / CANADIAN DOLLAR
1.7127CADR
−0.0038−0.22%
As of today at 05:07 GMT
CAD
No trades
CHFCAD trade ideas
CADCHF - H1 - 04.06.24 - 07:05 GMT+2Entry:
- Price broke through sideways range with strong move toward downside.
- Pullback is not really ideal, it is best to see a 40-50% pullback.
- Setup BB with pre-breakout tension, although it is not really ideal too, but the strong move to the downside give us favorable condition.
BULLISH MARKET STRUCTURE 4 CADCHFCADCHF is driven by bullish harmonic price patterns which have
been occurring for quite some time now
Bouncing between Supply and Demand areas
Price is currently playing around our demand area and this
could lead to a bullish move soon, supported by the
Bullish harmonic price pattern structure
which also formed on our demand areas
Be vigilant for stop hunts !!!
DeGRAM | CADCHF sliding towards the channel boundaryCADCHF is moving near the lower boundary of the descending channel, to which the price has been sliding for a long time.
The chart started to retest the channel boundary, support level and trend line.
We expect a rebound.
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CAD/CHF Day Trading analysis On CAD/CHF , it's nice to see a strong sell-off from the price of 0.66540. It's also encouraging to observe a strong volume area where a lot of contracts are accumulated.
I believe that sellers from this area will defend their short positions. When the price returns to this area, strong sellers will push the market down again.
The downtrend combined with the strong volume area along with the strong S/R area from the past are my main reasons for this short trade.
Happy trading,
Dale
CAD/CHF may fall 25 - 32 pips0.6620 is our pivot point.
Our preference
The downside prevails as long as 0.6620 is resistance.
Alternative scenario
Above 0.6620, look for 0.6632 and 0.6639.
Comment
The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6614 and 0.6621).
Supports and resistances
0.6639 **
0.6632 *
0.6620 **
0.6615
0.6609 last
0.6584
0.6577 **
0.6570 *
0.6563 **
Number of asterisks represents the strength of support and resistance levels.
CADCHF: Forecast & Technical Analysis
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the CADCHF pair price action which suggests a high likelihood of a coming move up.
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CADCHF Is Going Up! Buy!
Take a look at our analysis for CADCHF.
Time Frame: 1D
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 0.664.
Considering the today's price action, probabilities will be high to see a movement to 0.669.
P.S
Please, note that an oversold/overbought condition can last for a long time, and therefore being oversold/overbought doesn't mean a price rally will come soon, or at all.
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CADCHF - Ready For The Next Impulse 📉Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈 CADCHF has been overall bearish, trading within the falling channel in red.
At present, CADCHF is hovering around the upper bound of the channel acting as a non-horizontal resistance.
Moreover, it is retesting the upper bound of the short-term symmetrical triangle marked in orange.
🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper orange and red trendlines.
📚 As per my trading style:
As #CADCHF is around the circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
CADCHF short idea CAD/CHF currency pair is exhibiting significant bearish potential, driven by anticipated actions from the Bank of Canada (BOC) and the overall bearish trend of the US dollar, which indirectly impacts the Canadian dollar.
Fundamental Analysis :
Bank of Canada's Monetary Policy: The BOC is widely expected to lower interest rates in the near future. A rate cut would weaken the Canadian dollar as investors seek higher yields in other currencies. The dovish stance of the BOC is a key bearish factor for the CAD/CHF pair.
US Dollar's Bearish Outlook: The overall bearish sentiment towards the US dollar also indirectly impacts the Canadian dollar due to the close economic ties between the US and Canada. As the US dollar weakens, it often leads to a spillover effect, dragging down the Canadian dollar further against other currencies, including the Swiss franc.
Technical Analysis :
Technically, the CAD/CHF pair has recently shown signs of downward pressure, breaking below key support levels. Momentum indicators like the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest a continuation of the bearish trend, reinforcing the downside potential.
Conclusion :
Given the Bank of Canada's likely rate cuts and the overall bearish trend of the US dollar, the CAD/CHF pair is poised for further depreciation. Traders should consider this an opportune moment to explore short positions, anticipating continued weakness in the Canadian dollar against the Swiss franc.
