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CADCHF - Zone Breaking Soon, Nov. 23rd, 2020The analysis is mainly to show that the top zone will break on the next retest, the 'non reactionary' area and the 'likely area to start another bull rally,' were just a little extra I added but should not hold as the focus point. I usually do not do swing analysis, I decided to apply my low timeframe trend continuation method to a higher timeframe and see how well it goes. I would never blindly ride the assumed bearish trend down to the assumed bullish area and blindly enter a reversal long back up to the zone that I think will break. As far as I can tell the current range will hold on the bottom side and will just retest, pushup, and break the top side of the zone. If the bottom side of the ranging area were to break, then expect a downtrend to the bullish area, wait for a confirmation for a reversal as I believe this is heavy bull territory. Keep in mind if the bottom side range is broken then structure will be forming along the way, these areas will alter the analysis as a whole but can act as take profit targets if a bullish reversal were to be triggered. Summary: CADCHF is in a range, if the bottom side breaks then expect price to be bearish until the labeled bull zone, here you can look for high timeframe reversals. If the top side of the range is even retested again I think it will break.
Long
by TonyAiello
1
CADCHF long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
CADCHF Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of CADCHF (Monthly, Weekly, Daily for direction and 4H for entry) for Week 43 - 19 Oct M > Market tested monthly support and started an upward move after rejection. W > Price went up and dropped from resistance to complete W formation. D > Price was moving in a rising channel , as projected price climbed high and after a Doji /dragonfly sharply dropped down breaking channel support. Price was in consolidation in range of about 70-80 pips. Price broke supply zone last week and continued its move up till -0.272 Fib level on last bearish impulse. Price dropped below same supply zone and is now at same level. We expect price to continue with its bullish move. As per COT CAD saw addition of major Long and closure of Short positions with Short positions further reducing to least for current year, improving net positions (still in -ve). CXY further gained strength during the said week but weakened a bit last week. CHF saw closure of few Long and addition of Short positions, reducing net positions whereas N-R saw addition of both Long and Short positions increasing cumulative net positions. SXY further improved its position during the said week. However SXY weakened last week. 4H> Price has surpassed daily supply zone and is now returning back to retest it as support. We expect it to continue with two targets. 1. Supply zone it created at -0.272 Fob level (0.6966) 2. Next -0.272 Fib level on bearish impulse, this level also coincides with last high of 08 Sept (0.6998) Pair Correlation > CADCHF has positive correlation with GBPCHF and negative correlation with EURCAD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions. Thank You AP17FX
Long
by AP17FX
CADCHF long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
CADCHF: +30 PIPS POTENTIAL CAD - BULLISH 1️⃣ Governor Macklem added that the BoC is not actively discussing negative interest rates but they are a tool the bank could use in case it needs to do more to tackle economic challenges caused by the pandemic. 2️⃣ CAD gathers strength on impressive Canadian jobs report. Unemployment Rate in Canada declined to 9% in September. CHF - BEARISH 1️⃣ The State Secretariat for Economic Affairs (SECO) said that Switzerland’s GDP will contract by 3.8% this year amid the severe impact of the Covid-19 crisis 2️⃣ Switzerland's consumer prices are projected to fall 0.7% this year, compared with the previous forecast of a 0.9% decline. 3️⃣ The SNB has been intervening strongly in the foreign exchange market to stop the rise of the highly valued franc to protect the export-orientated economy. ===== TECHNICAL ===== - We're looking to long CADCHF on RBS level + 61.8% fibo retracement area on H1 chart. - CADCHF still in bullish zone.
Long
by MonsunAsia
4
CADCHF - BULLISH BIASCAD - BULLISH 1️⃣ The prevalent upbeat market mood drove flows away from the safe-haven greenback. 2️⃣ Rallying oil prices underpinned the loonie and further contributed to the offered tone. CHF - BEARISH 1️⃣ Swiss National Bank kept interest rates steady and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc. 2️⃣ Equities trade firmly in the green ever since the day started, amid hopes for a US coronavirus aid package and Trump's healthy. ===== TECHNICAL ===== - We long CADCHF on RBS level + SMA100 area + 61.8% fibo retracement area on H1 chart. - CADCHF in bullish zone.
Long
by MonsunAsia
1
CADCHF - BULLISH BIASCAD - BULLISH 1️⃣ Prime Minister Trudeau unveiled a plan to help the economy recovery from the coronavirus fallout, including a commitment to extend wage subsidies until next summer, and support for industries hardest hit by the pandemic. 2️⃣ The upbeat market mood at the start of the week seems to be making it difficult for the safe-haven USD to find demand. CHF - BEARISH 1️⃣ Swiss National Bank kept interest rates steady and reiterated its willingness to intervene more strongly in the currency markets to stop the rise of franc. ===== TECHNICAL ===== - We are looking to long CADCHF on RBS level + SMA100 area on H1 chart. - CADCHF in bullish zone.
Long
by MonsunAsia
CADCHF - BEARISH BIASCAD - BEARISH 1️⃣ Investors turned to safe-haven currencies amid concerns over surging coronavirus cases worldwide and the possibility of further lockdowns. 2️⃣ A fresh leg down in oil prices undermined the Loonie. 3️⃣ Ontario, the country’s most-populous province, cracked down on private social gatherings amid a spike in infections. CHF - BULLISH 1️⃣ The European country has been hit by a second wave of coronavirus infections with countries like Spain and the UK considering imposing more restrictive measures. ==== TECHNICAL ===== - We're shorting this pair on SMA100 area + SBR level on H1 chart. - CADCHF on bearish zone.
Short
by MonsunAsia
CADCHF - BEARISH BIASCAD - BEARISH 1️⃣ Investors turned to safe-haven currencies amid concerns over surging coronavirus cases worldwide and the possibility of further lockdowns. 2️⃣ A fresh leg down in oil prices undermined the Loonie. CHF - BULLISH 1️⃣ The risk-off tone likely to remain supported the safe-havens flow. ===== TECHNICAL ===== - We are looking to short CADCHF on SBR level + SMA100 area on H1 chart. - CADCHF in bearish zone. ===== RISK TO THIS TRADE ===== - This trade will hit stop loss if market sentiment turns to risk-off.
Short
by MonsunAsia
2