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So CHF is in a range for the past 3 years, but current fear in the world has boosted its valuation. A historical look show that every peak above the channel top with RSI above 70 on the daily chart has been in anticipation of a turn down. We're gonna bet on history repeating itself.
- Peak over strong channel top
- RSI and Stoch overbought (which has been a good ...
The continuation of CAD main pairs together ... the main levels
Was curious what an index of currency pairs the same as the DXY would look like as CAD.
United States (USD)
Japanese yen (JPY)
Pound sterling (GBP)
Swedish krona (SEK)
Swiss franc (CHF)
A lot of pairs have strengthened against CAD for past few weeks but I believe CAD strength will comeback. CAD bottoming process is near complete thanks to 2 weekly bullish bars.
Within the next few days, I expect the swiss franc over the Canadian dollar to reach a 1.363 price target. This is due because some positive correlations to strong buys as well as continued volatility over positive correlations in price. Also the Canadian dollar recently started getting slightly weaker along with the US Dollar, hence leading into further ...
risk vs reward:3.83
using the forex screener seems chfcad is on a down trend , looks like a short that may violate the up trend shortly. may face a support at 1.3370 area because it acts as major S&L.
Short CHFCAD @ 1.35; TP @ 1.3220, SL your choice - 2nd try
Short CHFCAD @ 1.3469; TP @ 1.3200, SL your choice
CHFCAD: still has 100 pips to target for a long trade
You can do it better if price hit back by the same high as last top.
Less is more!
So, obviously this is quite ahead of itself but like I have said before I LOVE posting charts this far ahead. Why you ask? Well it is really simple, if a chart isn't to the c point yet and it ends up playing out to D I will enter that trade with more confidence as well as being prepared. I am not saying this will definitely happen but if it does I believe it is ...
*buy opportunity after BREAKOUT of the trendline and a formation of a Head and shoulders pattern.For a secure entry wait for a candle's close above 1.2724.
*potential targets( in order the 0.382 , 0.5 , 0.618 Fibonacci retracement of the downward movement );
Long CHF/CAD @ 1.26; TP @ 1.2852, SL your choice
The CHF has successfuly retested its wedge but has been unable to accelerate higher. Given the current small time pattern, I'd expect a small move up followed by a second retest of the support zone.
Should the pass of least resistance still be the upside, the uptrend should then resume.
Strong bear legs with strong bear volume