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There is a great chance for a bearish trend to be taking place today on the CADCHF chart and that is according to the price which is currently located on a lower level than the EMA 15 line.
According to the power momentum indicator a high power of the bearish trend is shown and also it can be used as a filter for the entering the sell positions.
For more confirmation we can use the power line indicator which is currently above the 50 level giving us a good upward direction signal as a result.
http://bigimage.cz/photos/20010103978510906157903.gif .
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A bullish trend seems to be taking place today on the CADCHF pair and that’s according to the green 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.
I prefer to wait for the Nonlog indicator till it shows a confirmation then i do think that the buy trades would be taking place more frequently since the signals are currently showing us a strong bullish trend.
For the exit plan I think waiting for the price to hit the support 0.8442 would be the best choice or we can always wait for the super trend to change its color to red either way that can only mean that the bullish trend is over and we should be ready for the price to be heading for the opposite direction .
http://bigimage.cz/photos/20010103978508998129289.gif .
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http://prntscr.com/4yjwpz
analysis for today 10 / 22 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 21 / 2014
OPEN 0.8348
HIGH 0.8454
LOW 0.8343
CLOSED 0.8453
The third resistance (R3) 0.8454 -( 0.8417 - 0.8343 = 0.0074 x 2 = 0.0147 )= 0.8601
The second Resistance (R2) 0.8417 + 0.8454 - 0.8343 = 0.8528
First resistance (R1) 0.8417 x 2 = 1.6833 - 0.8343 = 0.8490
pivot points 0.8454 + 0.8343 + 0.8453 = 2.5250 / 3 = 0.8417
Support for the first (S1) 0.8417 x 2 = 1.6833 - 0.8454 = 0.8379
Support second (S2) 0.8417 -( 0.8454 - 0.8343 = 0.0111 ) = 0.8306
Third Support (S3) 0.8343 -( 0.8454 - 0.8417 = 0.0037 x 2 = 0.0075 )= 0.8268
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Today on the CADCHF chart we can see that the price is moving above EMA indicator’s taking a bullish direction We can also see that the RSI indicator is giving us a buy signal according to the position of the line which is currently above the center line of 35 We can also use the data from the MACD indicator to determine like in the case that the bulls are the ones controlling the market in the current period and that’s because of the green lines heading up in my opinion I do think that the going with the bulls for the current day would be wise but that would be until the price gets below the EMA indicator wave creating by that a new sell signal .
http://bigimage.cz/photos/20010104978567248120582.gif .
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The up trend taking place at the moment on the CADCHF is taking place according to where the EMAs 5 and 6 which is Above the EMA 35 as a result to that taking buy orders would be the best if a bullish direction confirmation came from the other indicators.
According to the parabolic sar indicator’s dots located below the candles we assume that the price would be taking a upward direction as for the MACD which is currently moving above the 0 level it does give us a buy 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 bearish signal do appear buying would be the best option available at the moment.
http://bigimage.cz/photos/20010104978598188712287.gif .
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A bullish trend seems to be taking place today on the CADCHF pair and that’s according to the green 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.
I prefer to wait for the Nonlog indicator till it shows a confirmation then i do think that the buy trades would be taking place more frequently since the signals are currently showing us a strong bullish trend.
For the exit plan I think waiting for the price to hit the support 0.8473 would be the best choice or we can always wait for the super trend to change its color to red either way that can only mean that the bullish trend is over and we should be ready for the price to be heading for the opposite direction .
http://bigimage.cz/photos/20010104978598121985471.gif .
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There is a great chance for a bearish trend to be taking place today on the CADCHF chart and that is according to the price which is currently located on a lower level than the EMA 15 line.
According to the power momentum indicator a high power of the bearish trend is shown and also it can be used as a filter for the entering the sell positions.
For more confirmation we can use the power line indicator which is currently above the 50 level giving us a good upward direction signal as a result.
http://bigimage.cz/photos/20010104978598409618225.gif .
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http://prntscr.com/4yw5oo
analysis for today 10 / 23 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 22 / 2014
OPEN 0.8453
HIGH 0.8513
LOW 0.8430
CLOSED 0.8484
The third resistance (R3) 0.8513 -( 0.8476 - 0.8430 = 0.0046 x 2 = 0.0091 )= 0.8604
The second Resistance (R2) 0.8476 + 0.8513 - 0.8430 = 0.8559
First resistance (R1) 0.8476 x 2 = 1.6951 - 0.8430 = 0.8521
pivot points 0.8513 + 0.8430 + 0.8484 = 2.5427 / 3 = 0.8476
Support for the first (S1) 0.8476 x 2 = 1.6951 - 0.8513 = 0.8438
Support second (S2) 0.8476 -( 0.8513 - 0.8430 = 0.0083 ) = 0.8393
Third Support (S3) 0.8430 -( 0.8513 - 0.8476 = 0.0037 x 2 = 0.0075 )= 0.8355
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As you can all realize there is a upward trend taking place on the CADCHF pair indicated by the blue dots appearing on the bars the price may keep going north so long it stays lower than the level 0.8284 which is considered a strong support and also a weekly pivot point that of course until it hits the resistance at level 0.852 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 support 0.8284 and got itself a bearish signal via the red dots in this case I do think that the price will be heading south till it hits the support 0.8181 which is the pivot level of the current week.
http://bigimage.cz/photos/20010105978652764163965.gif .
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On the CADCHF chart the momentum indicator shows clearly a cross as the blue line goes above the red line to make a good buy signal for the current time The Oracle Strength indicator shows a blue color and that indicates a upward direction on the CADCHF chart To be more accurate you can see the blue colored arrows which mean that there is a upward signal for now on the Oracle direction indicator From all the data from the indicators above and as long as the momentum indicator shows a buy cross the upward trend is shown on the chart and my advice is to go for the buy trades as long as the ATR indicator shows a buy signals.
http://bigimage.cz/photos/20010105978653321187780.gif .
