Hello everyone,
The time has come for me to share one of my weekly trading plans with you. This week we are going to look over the CAD/CHF currency pair and all the possibilities of the downtrend that lays ahead.
The full technical analysis can be seen on our Youtube channel.
Below you can find information regarding the zones and also a fundamental overview for this week.
Zones:
Daily Resistance Area: 0.7550 to 0.7610
Daily Support Area - First Target: 0.7425 to 0.7385
Daily Support Area - Second Target: 0.7265 to 0.7225
H4 Zone of possible bounce: 0.7580 to 0.7610
Fundamental Analysis:
Wednesday - July 11th
14:00 GMT (16:00 Bulgarian Time)
CAD Bank of Canada Rate Decision
The Bank of Canada is expected to raise their rates from 1.25% to 1.5%. I believe that this has already been priced in on the market as we can see the last uptrend wave. This means that unless there are any surprises we should be set up for a down wave. Even if a surprise occurs it will be to leave the rates at 1.25% meaning that the CAD will lose value and will only stimulate further the downtrend wave.
This is the only high-importance event for this week. There will be a few medium-importance events as well, so keep them in mind. Check with the economic calendar.
I wish everyone a profitable week! :)
The time has come for me to share one of my weekly trading plans with you. This week we are going to look over the CAD/CHF currency pair and all the possibilities of the downtrend that lays ahead.
The full technical analysis can be seen on our Youtube channel.
Below you can find information regarding the zones and also a fundamental overview for this week.
Zones:
Daily Resistance Area: 0.7550 to 0.7610
Daily Support Area - First Target: 0.7425 to 0.7385
Daily Support Area - Second Target: 0.7265 to 0.7225
H4 Zone of possible bounce: 0.7580 to 0.7610
Fundamental Analysis:
Wednesday - July 11th
14:00 GMT (16:00 Bulgarian Time)
CAD Bank of Canada Rate Decision
The Bank of Canada is expected to raise their rates from 1.25% to 1.5%. I believe that this has already been priced in on the market as we can see the last uptrend wave. This means that unless there are any surprises we should be set up for a down wave. Even if a surprise occurs it will be to leave the rates at 1.25% meaning that the CAD will lose value and will only stimulate further the downtrend wave.
This is the only high-importance event for this week. There will be a few medium-importance events as well, so keep them in mind. Check with the economic calendar.
I wish everyone a profitable week! :)
