osbetel

CADCHF Long Term Outlook

OANDA:CADCHF   CAD/CHF
CADCHF             has moved accordingly with one of my previous ideas:



There is however an ascending trendline on the weekly/daily chart dating back to around Jan 2016, and so we have two possibilities in the coming week:

The first possibility is that it bounces, the CAD recovers, and we enter long for the next few months for a lot of pips. Easy.

The second possibility is that CAD weakens further, and it breaks this trendline to fall to the next major resistance around 0.7.
I want to say that I think a bounce and entry long is more likely due to a general good outlook on the Canadian economy right now... But the recent metals tariffs enacted by the Trump Administration in the US may have some long term effects on Canada.
Canada is the biggest exporter of steel and aluminum to the US. Prices of steel and aluminum have increased within the past few days for US consumers to offset these tariffs. So we will see if this effects the CAD at all.

Do your due diligence before trading.

I'll update this idea pending price action near the trendline .
Comment: We're experiencing some hesitation around the trendline. We may see some period of consolidation before the long term direction of price reveals itself.
Comment: Major bounce! We can enter long on dips.
Trade active: Entering long on the daily/weekly timeframe.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out