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CAD (Canadian Dollar)

CADCHF → reversal set-up. Resistance retest CADCHF has been in a descending price channel for a long time. False break-down of the resistance does not give much result and the price comes back to the retest of the resistance. Because we have a downtrend within the range, it was logical to expect a fall after a false-break, but the support level at 0.66247 holds the price back and after a false-break the currency pair returns to the retest of the upper border of the channel. A global reversal set-up is formed on the chart, the base of which is the level of 0.66365. If this zone is breached (channel resistance passes here as well) the price may show a strong bullish momentum. Strong support: 0.66247, 0.6597 Strong resistance: 0.66365, descending border of the channel I expect that in the nearest future the price will be able to break the mentioned resistance and continue the attempt of trend change, which may be successful. Regards to R. Linda!
Long
by RLinda
25
CADCHF waiting for setupOne pair I am closely watching is CADCHF. Recently traded all time low as far as my chart sees @.64886 area. 3Month Current overall trend is bearish but I am looking for a potential roll over. It is currently testing tesing a daily resistance zone .6654 which has been rejected a few times. A break above could possibly pave a way to test the next daily resistance of around .6800 zone a fail to break cold look to see a test of the previous low. We are currently below the 50sma. Rsi struggling to break the 51 level. DAILY CHART 4H DIVERGENCE On the 4h we are seeing divvergence on the daily resistance zone showing exhaustion but we want to see that break and retest above for a bullish setup. For a bearish scenario we want to see a break of the previous structure low and a retest and sell on the lower tf to test the previous low. 4h chart
by Junmadayag
Cadchf potential turning?**Find out more from my Tradingview Stream this week** *************************************************************************************** Hello there! If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏 And if you would like to show further support for me, you can gift me some coins on tradingview! 😁 Thank you! Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared. Thank you, and please do your due diligence before any putting on any trades!
by Shadowing_The_Big_Boys
CADCHF ____ INCOMING BULLISH TRADE IDEAHello Traders, CADCHF is passing the vibe check for next week. As we all know, this pair dumped into a level it has never gotten to before and rallied. Now, this doesn't mean that it can't continue lower, but if you look at last week's candle, you will see the strong buying pressure which is depicted by the wick of the candle and I expect that at the start of next week, price is likely to trade into the wick before the rally to the upside. Another reason why I expect the price to rally from my POI as marked on my chart is due to the equal highs (liquidity pool) that I have marked, which is usually attractive to price. Also if you look left, you'd notice that there is a trendline liquidity pool just below a daily FVG (see daily timeframe for clarity) which gives price more reasons to rally. I would update you guys by next week if this move is still valid based on how the price moves. Also, I would really appreciate it if you follow me on Twitter: twitter.com Let me know what you think of this idea if you also have CADCHF on your radar. I would be posting more trade ideas for next week. STAY TUNNED!!! Cheers, David
Long
by jabariofafrica
LONG REVERSAL IN CADCHF | SWING TRADECADCHF is trading at all time lows area. Checking out the price action, the price is trading in a DAILY FALLING WEDGE PATTERN which is a BULLISH reversal pattern. Once daily closes above the falling wedge, a LONG can be initiated on 1. Breakout of falling wedge, 2. Retest of falling wedge as support after the breakout There is also BULLISH RSI DIVERGENCE, which shows downtrend is getting weak and trend may reverse soon. This is a SWING TRADE. But if daily closes back inside the falling wedge after the breakout, that would result in fake breakout/bulltrap and the idea will be invalidated. Let me know in the comments section if you want me to analyse any other financial instrument. WARNING:- ALWAYS FOLLOW RISK MANAGEMENT AND POSITION SIZING WHILE TAKING ANY TRADE.
Long
by rohitkukreja