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There is a great chance for a bullish trend to be taking place today on the CADCHF chart and that is according to the price which is currently located on a upper level than the EMA 15 line.
According to the power momentum indicator a low power of the bullish trend is shown and also it can be used as a filter for the entering the buy positions.
For more confirmation we can use the power line indicator which is currently below the 50 level giving us a good downward direction signal as a result.
http://bigimage.cz/photos/20141015141332808136568.gif .
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The down trend taking place at the moment on the CADCHF is taking place according to where the EMAs 5 and 6 which is below the EMA 35 as a result to that taking sell orders would be the best if a bearish direction confirmation came from the other indicators.
According to the parabolic sar indicator’s dots located above the candles we assume that the price would be taking a downward direction as for the MACD which is currently moving below the 0 level it does give us a sell signal.
Also the CCI line is currently in the lower level giving us by that a downward signal.
So to sum all that up I do believe that unless any bullish signal do appear selling would be the best option available at the moment.
http://bigimage.cz/photos/20141015141333490301798.gif .
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http://i58.tinypic.com/34fin2t.jpg
Pair: CADCHF
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
---------- Post added at 01:22 PM ---------- Previous post was at 01:22 PM ----------
http://i58.tinypic.com/34fin2t.jpg
Pair: CADCHF
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
---------- Post added at 01:23 PM ---------- Previous post was at 01:22 PM ----------
http://i58.tinypic.com/34fin2t.jpg
Pair: CADCHF
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
---------- Post added at 01:22 PM ---------- Previous post was at 01:22 PM ----------
http://i58.tinypic.com/34fin2t.jpg
Pair: CADCHF
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
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http://prntscr.com/4wblam
analysis for today 10 / 15 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 14 / 2014
OPEN 0.8461
HIGH 0.8501
LOW 0.8431
CLOSED 0.8438
The third resistance (R3) 0.8501 -( 0.8457 - 0.8431 = 0.0026 x 2 = 0.0051 )= 0.8552
The second Resistance (R2) 0.8457 + 0.8501 - 0.8431 = 0.8527
First resistance (R1) 0.8457 x 2 = 1.6913 - 0.8431 = 0.8482
pivot points 0.8501 + 0.8431 + 0.8438 = 2.5370 / 3 = 0.8457
Support for the first (S1) 0.8457 x 2 = 1.6913 - 0.8501 = 0.8412
Support second (S2) 0.8457 -( 0.8501 - 0.8431 = 0.0070 ) = 0.8387
Third Support (S3) 0.8431 -( 0.8501 - 0.8457 = 0.0044 x 2 = 0.0089 )= 0.8342
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As we can see a red arrow is taking place on the CADCHF chart which indicates that a bearish trend is taking place at the moment.
A top located at 0.8505 is supporting the trend for it is a very strong resistance and if the bearish trend is still strong then the price shouldn't be able to go above it.
The dots from the parabolic sar indicators are shown below the candles which gives a sign of where the price will be heading which is up in this case.
The support 0.834 would be a great place to act as closing positions if we are to be making selling trades since the price might be heading north after hitting it http://bigimage.cz/photos/20141015141340951142080.gif .
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Today on the CADCHF chart we can see that the price is moving below EMA indicator’s taking a bearish direction We can also see that the RSI indicator is giving us a sell signal according to the position of the line which is currently below the center line of 35 We can also use the data from the MACD indicator to determine like in the case that the bears are the ones controlling the market in the current period and that’s because of the green lines heading down in my opinion I do think that the going with the bears for the current day would be wise but that would be until the price gets over the EMA indicator wave creating by that a new buy signal .
http://bigimage.cz/photos/20141016141341204432123.gif .
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A bearish trend seems to be taking place today on the CADCHF pair and that’s according to the red color shown by the Super trend indicator determining by that the main market direction.
A sell signal is indicated from the Nonlog dot indicator and that is by giving us a red colored dot.
if the signals keep showing the same signals then i do think that the sell trades would be taking place more frequently since the signals are currently showing us a strong bearish trend.
For the exit plan I think waiting for the price to hit the resistance 0.8385 would be the best choice or we can always wait for the super trend to change its color to green either way that can only mean that the bearish trend is over and we should be ready for the price to be heading for the opposite direction .
http://bigimage.cz/photos/20141016141341220841118.gif .
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As you can all realize there is a downward trend taking place on the CADCHF pair indicated by the red dots appearing on the bars the price may keep going south so long it stays lower than the level 0.8616 which is considered a strong resistance and also a weekly pivot point that of course until it hits the support at level 0.849 which is also a weekly pivot point.
But there is another possibility that might yet take place and that is if the price broke the resistance 0.8616 and got itself a bullish signal via the blue dots in this case I do think that the price will be heading north till it hits the resistance 0.8688 which is the pivot level of the current week.
http://bigimage.cz/photos/20141016141341515100645.gif .
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The down trend taking place at the moment on the CADCHF is taking place according to where the EMAs 5 and 6 which is below the EMA 35 as a result to that taking sell orders would be the best if a bearish direction confirmation came from the other indicators.
According to the parabolic sar indicator’s dots located above the candles we assume that the price would be taking a downward direction as for the MACD which is currently moving below the 0 level it does give us a sell signal.
Also the CCI line is currently in the lower level giving us by that a downward signal.
So to sum all that up I do believe that unless any bullish signal do appear selling would be the best option available at the moment.
http://bigimage.cz/photos/20141016141343875203807.gif .
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http://i62.tinypic.com/2zylcn9.jpg
Pair: CADCHF
Type of analysis: Technical
Time frame: H1
Channel line: Bearish under pivot
Fibonacci Indicator: Bearish expansion
William %R Indicator: Bearish (swing low)
Final decision: Bearish
