Market sentiment seems to be on the positive side at this time, risk-on currencies could see some positive upside move throughout the rest of the Asia session... however we could see a change during the EUR session so I'm looking to sell CAD anticipating a bearish market mood and continuation of the downward trend.
Although the price has been fighting to get into a healthy correction, to heal the EMA's overextension, a strong area of resistance continues to work as a line of defense, preventing the upward movement toward the FIB's golden levels.
If the price fails to break the area, a bearish continuation towards the next support level is unavoidable. The reason why a short...
two things to keep in mind :
1.Switzerland is expected to maintain
its ultra-expansive monetary policy
for some time as it is facing the sharpest
downturn since the aftermath of oil price shocks in the 1970s.
2.The SNB President Thomas Jordan
has been reiterating the CB will continue
to intervene strongly in the foreign exchange
market to stop the rise of the...
CAD - BEARISH
1️⃣ Oil price gains are capped by concerns the resumption of COVID-19 in America will curtail demand.
2️⃣ Flaky risk sentiment are hampering the Loonie.
CHF - BULLISH
1️⃣ The recent escalation in diplomatic tensions between the US and China added to market concerns that the economic recovery in the US could be...
Please fill the lines..!
Cancel/pending plan few minutes before news! (Medium/high impact news)
Decide your target, manage your risk..!
Turn off your PC..! Let your choice running..!
The content on this analysis is subject to change at any time without notice, and is not provided for assisting traders to make decision.
Hey everyone, I hope your weekend has been great. I spent most of the day working, so I am going to keep this short before I head to bed. The currency markets have just opened and things are racing. Right now we are looking at the CADCHF which looks like it is on its way down for the next little while.
Elliott wave Analysis: Okay, so let me break down what we...
From the figured of charts, we can see the price was in a bullish trend for a long time, thus the correction will happen when it hit the support line then enter the buying zone and when the price hits below the support line in the period of your retest you can consider it to sell. But on this pair, I strongly suggest buying because of the correction to the market...
We're selling CADCHF from current levels.
Price has done a small ABC pattern pullback and made it back to previously significant levels and can drop from here.
Updates to follow.