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the down red arrow located above the price determines that a bearish trend is taking place at the moment on the CADCHF pair also the sell cross taking place between the snake and T2_clean verifies it even more.
the support 0.8445 is a strong level and it could be used as a take profit level to minimize the losses if the price headed the opposite direction or if it got penetrated and kept heading down then the price will keep selling On the other hand a strong stop loss level could be initiated at the resistance of the price 0.8545 I think selling would be the wisest decision at the moment unless another opposite buy signal is formed or if a blue up arrow appears http://bigimage.cz/photos/20141119141638475140365.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 0.855 which is considered a strong resistance and also a weekly pivot point that of course until it hits the support at level 0.8443 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 0.855 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 0.8608 which is the pivot level of the current week.
http://bigimage.cz/photos/20141120141644814725381.gif .
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analysis for today 11 / 20 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 11 / 19 / 2014
OPEN 0.8488
HIGH 0.8480
LOW 0.8421
CLOSED 0.8435
The third resistance (R3) 0.8480 -( 0.8445 - 0.8421 = 0.0024 x 2 = 0.0049 )= 0.8529
The second Resistance (R2) 0.8445 + 0.8480 - 0.8421 = 0.8504
First resistance (R1) 0.8445 x 2 = 1.6891 - 0.8421 = 0.8470
pivot points 0.8480 + 0.8421 + 0.8435 = 2.5336 / 3 = 0.8445
Support for the first (S1) 0.8445 x 2 = 1.6891 - 0.8480 = 0.8411
Support second (S2) 0.8445 -( 0.8480 - 0.8421 = 0.0059 ) = 0.8386
Third Support (S3) 0.8421 -( 0.8480 - 0.8445 = 0.0035 x 2 = 0.0069 )= 0.8352
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As you can see on the CADCHF chart in front of us the blue line’s position in the moment indicator is above the red line which means a good buying signal should be occurring.
also the yellow color shown in the oracle strength indicator means that a upwards direction signal is going to take place.
The oracle direction indicator could serve as a filtering tool with the red colors shown on the arrows meaning that a downward signal would be taking place in short term trades.
Summing all that up in my opinion I do think that the trend would be taking a upward direction but that can only happen if the moment buy cross was taking place on the chart And as long as the ATR indicator keeps showing buying signals then without doubt the buy trades would be a better choice for entry.
http://bigimage.cz/photos/20141120141647079107668.gif
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As we can see in the CADCHF chart the main trend is currently taking a down direction and that’s because of the position of the 5 and 6 EMAs which are Below the 35 EMA and as a result taking sell positions is the right choice once I get the confirmation from the other indicators that the direction will be bearish .
The parabolic sar indicator shows that the price might be taking a upward direction according to the dots below the candles .
The MACD indicator is giving me a sell signal which is currently moving Below the 0 level also the CCI line is performing downward signal as is at the Lower level .
As a conclusion to what I said earlier I do think that selling would be the best choice for now according to the EMA locations that of course unless the price gave a bullish signal instead .
http://bigimage.cz/photos/20141120141646569177741.gif
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On the CADCHF chart you can see a bearish trend due to the red color of the super trend and it is the main indicator to know the price movement direction.
The Nonlong dot is colored in blue and that is an indication for a buy signal.
The signals now are showing a weak bearish trend also the sell trades can take place as soon as the Nonlog indicator has changes to confirm the new direction.
When we talk to the stop loss area we can think about two ways to end first if the price reaches the resistance of 0.844 and the second when the super trend changes its color to green that means that the bearish trend has ended .
http://bigimage.cz/photos/20141120141646545847357.gif
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On the CADCHF a bullish cross is currently taking place between the 9 and the 152 EMAs indicating by that the possibility that the price will be heading north soon.
After monitoring the histogram indicator we can notice that a green line is starting to take shape forming by that a bullish signal for the pair by being located over the 0 histogram level.
As for the market emotion indicator which is giving us a green line meaning by that that the price will be starting to rise to reach higher prices.
On the guru angle indicator we can notice that the slope is currently moving below the 0 level colored as red indicating by that a bearish direction now.
Clearly we can see that the price might be heading north in order to test the next resistance located at the price 0.8512 that's why I do recommend that as long as the indicators keep showing the same signals we should go with buy orders.
http://bigimage.cz/photos/20141120141647520814101.gif
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A new bearish trend is starting to take place on the CADCHF according to the MA indicator which changed to red color and at the same time the candles started turning to the red color which confirms the direction of the trend.
The bearish trend's strength is shown by the BB MACD indicator signal where the red dots are currently stationed below the zero level.
In the end I think sell trades would work greatly since the bearish direction is gaining in strength targeting by the support located at the level 0.8425 as long as it remains strong and keeps its position below the level 0.8455 which is a resistance level at the moment .
http://bigimage.cz/photos/20141120141646586102387.gif
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For today's analysis on the CADCHF since we can see that the price located below the level 0.846 colored in red which can be considered a resistance point according on the MBFX indicator.
On the other hand the vestro indicator is showing us a bullish saturation as its last signal.
down in this situation targeting the next MBFX level located at the support of the price 0.8446 which could be our primary selling target and if it kept going on the same pace then the support located at 0.8432 could be considered as our secondary target but in case the price breaks the level 0.848 then this would be the time to start thinking about buying orders as the price will stop heading down http://bigimage.cz/photos/20141120141647841151202.gif
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the up blue arrow located below the price determines that a bullish trend is taking place at the moment on the CADCHF pair also the buy cross taking place between the snake and T2_clean verifies it even more.
the resistance 0.847 is a strong level and it could be used as a take profit level to minimize the losses if the price headed the opposite direction or if it got penetrated and kept heading up then the price will keep buying On the other hand a strong stop loss level could be initiated at the support of the price 0.8415 I think buying would be the wisest decision at the moment unless another opposite sell signal is formed or if a red down arrow appears http://bigimage.cz/photos/20141120141648199905799.gif .
