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analysis for today 12 / 3 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 0.8491
Retracement (50%) 0.8484
retracement (61,8%) 0.8476
Extensions (61.8%) 0.8552
Extensions (100.0%) 0.8575
Extensions (138.2%) 0.8598
Extensions (161.8%) 0.8613
calculation based on a Fibonacci retracement then today I choose buy
The CCI indicator is in overbought condition, also therehttp://i.imgur.com/myNUErA.png is a resistance level at 0.8610 that's why I think that the price will fall down.
The price is moving above the wave of EMA indicators to perform a shape of bullish direction through the day at the chart of CADCHF pair.
And with a buy signal showing on the RSI indicator which have the line going above the center line of 50.
This also can be merged with the data of Macd indicator as you can see the green lines is heading up to inform that the market bulls have the control at the market for the current period.
Then I think going with the bulls at the current day and keep at the market until another sell signals shown on the cart by getting the price under the wave of EMA indicators .
http://bigimage.cz/photos/20141204141767416190284.gif
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.
http://bigimage.cz/photos/20141204141767457100179.gif
the CADCHF pair have a up channel as you can mention on the chart then thinking about an bullish direction on the few coming hours is strongly .
By the current time the price hits the recommended upper edge of the Donchin Channel indicator alerting for a good chance for south movement.
Another signal is given by the awesome indicator as the price keeps above the zero's level and showing red color which could be recognized as a good sell signal.
Finally I can see the signal of bearish direction on the stostatic according to the last sell intersection between the two lines near the 80 Th level.
Waiting a confirmation of buying direction form awesome indicator is a wise but in the same time the current situation could encourage the buy trades as long as the price didn't reach the high edge of Donchin channel http://bigimage.cz/photos/20141204141767444503791.gif
On the CADCHF hourly chart we can see that a strong bullish trend is happening as the Blade oscillator is now at the 0.0005 area above the level of balance and also the indicator is colored in blue that is a strong indication of bullish direction on the short term.
Another buy signal is shown on the moving average indicator as it is heading downward to let me think that the last bottom performed at 0.8596 could be a good place to set any buy position's stop loss level at .
http://bigimage.cz/photos/20141204141767576957751.gif
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 red line is starting to take shape forming by that a bearish signal for the pair by being located under 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 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 0.8656 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/20141204141767566690703.gif
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 0.8555 because there is a resistance there or to get a new sell signal on the indicators .
http://bigimage.cz/photos/20141204141767599188050.gif
On the CADCHF 1H chart we can see a bullish trend as we can notice the green arrow on the chart the trend is supported with a bottom located at 0.8515 which can be used as a strong support that the price couldn't go below it in case that the bullish trend still strong.
The parabolic sar dots is located below the candles that is a sign that the price is going to move up In case that the buying trades are happening we can consider the resistance which located at 0.8615 as a good area to close some of the open positions as the price has a good chance to go south after hitting it.
http://bigimage.cz/photos/20141204141767808175200.gif
For today's analysis on the CADCHF since we can see that the price located above the level 0.8602 colored in blue which can be considered a balanced 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 0.8636 which could be our primary buying target and if it kept going on the same pace then the resistance located at 0.8657 could be considered as our secondary target but in case the price breaks the level 0.8568 then this would be the time to start thinking about selling orders as the price will stop heading up http://bigimage.cz/photos/20141204141767755261284.gif