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On the CADCHF hourly chart we can see a bullish channel also we can see the yelow color of the Moving average indicator that means that the price is moving up for the current time.
The market started today at a higher levels than the daily pivot point at 0.8444 and due to the data we mentioned before the price may continue to go up till it hits the first daily pivot resistance which located at 0.8457 also if the WPR indicator does not show an opposite downward signals.
If we reach our target we can keep buying till the 0.847 resistance that is very strong resistance level to reach till the end of the day.
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analysis for today 11 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 11 / 20 / 2014
OPEN 0.8433
HIGH 0.8485
LOW 0.8418
CLOSED 0.8473
The third resistance (R3) 0.8485 -( 0.8459 - 0.8418 = 0.0041 x 2 = 0.0081 )= 0.8566
The second Resistance (R2) 0.8459 + 0.8485 - 0.8418 = 0.8526
First resistance (R1) 0.8459 x 2 = 1.6917 - 0.8418 = 0.8499
pivot points 0.8485 + 0.8418 + 0.8473 = 2.5376 / 3 = 0.8459
Support for the first (S1) 0.8459 x 2 = 1.6917 - 0.8485 = 0.8432
Support second (S2) 0.8459 -( 0.8485 - 0.8418 = 0.0067 ) = 0.8392
Third Support (S3) 0.8418 -( 0.8485 - 0.8459 = 0.0026 x 2 = 0.0053 )= 0.8365
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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 0.8443 which is considered a strong support and also a weekly pivot point that of course until it hits the resistance at level 0.855 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 0.8443 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 0.8394 which is the pivot level of the current week.
http://bigimage.cz/photos/20141121141654354195925.gif .
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As we can see in the CADCHF chart the main trend is currently taking a up direction and that’s because of the position of the 5 and 6 EMAs which are above the 35 EMA and as a result taking buy positions is the right choice once I get the confirmation from the other indicators that the direction will be bullish .
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 buy signal which is currently moving above the 0 level also the CCI line is performing upward signal as is at the higher level .
As a conclusion to what I said earlier I do think that buying would be the best choice for now according to the EMA locations that of course unless the price gave a bearish signal instead .
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On the CADCHF chart you can see a bullish trend due to the green color of the super trend and it is the main indicator to know the price movement direction.
The Nonlong dot is colored in red and that is an indication for a sell signal.
The signals now are showing a weak bullish trend also the buy 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 support of 0.8465 and the second when the super trend changes its color to red that means that the bullish trend has ended .
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A new bullish trend is starting to take place on the CADCHF according to the MA indicator which changed to green color and at the same time the candles started turning to the green color which confirms the direction of the trend.
The bullish trend's strength is shown by the BB MACD indicator signal where the green dots are currently stationed above the zero level.
In the end I think buy trades would work greatly since the bullish direction is gaining in strength targeting by the resistance located at the level 0.8485 as long as it remains strong and keeps its position above the level 0.8455 which is a support level at the moment .
http://bigimage.cz/photos/20141121141655133564776.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 red line meaning by that that the price will be starting to fall to reach lower prices.
On the guru angle indicator we can notice that the slope is currently moving above the 0 level colored as green indicating by that a bullish direction now.
Clearly we can see that the price might be heading north in order to test the next resistance located at the price 0.8531 that's why I do recommend that as long as the indicators keep showing the same signals we should go with buy orders.
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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 below the red line which means a good selling 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 downward direction but that can only happen if the moment sell cross was taking place on the chart And as long as the ATR indicator keeps showing selling signals then without doubt the sell trades would be a better choice for entry.
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By monitoring the hourly chart of the CADCHF we will notice good buying signals because we have a blue arrow as the last signal of EMA crossover indicator that uses 2 exponential moving averages with different shifts and at the same time we can see the red line crossing above the blue one which confirm the buy signal .
We can have the same result by using QQE indicator we can find the lines above the fifty levels and showing a buy cross below the chart.
My target is to buy till the price can reach 0.8445 because there is a resistance there or to get a new sell signal on the indicators .
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For today's analysis on the CADCHF since we can see that the price located above the level 0.8465 colored in grey which can be considered a support point according on the MBFX indicator.
On the other hand the vestro indicator is showing us a bearish saturation as its last signal.
up in this situation targeting the next MBFX level located at the resistance of the price 0.8487 which could be our primary buying target and if it kept going on the same pace then the resistance located at 0.851 could be considered as our secondary target but in case the price breaks the level 0.8451 then this would be the time to start thinking about selling orders as the price will stop heading up http://bigimage.cz/photos/20141121141655682118707.gif