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analysis for today 12 / 8 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bullish trend
retracement (38.2%) 0.8492
Retracement (50%) 0.8486
retracement (61,8%) 0.8480
Extensions (61.8%) 0.8544
Extensions (100.0%) 0.8564
Extensions (138.2%) 0.8584
Extensions (161.8%) 0.8596
calculation based on a Fibonacci retracement then today I choose buy
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/20141209141810676127333.gif
As I can see on the CADCHF hour chart the daily open for today was lower than the last day which can be a good signal for a south direction of the market.
Now when focusing on the chart you can easily get the signal form the red down arrow which shown above the price candles to indicate a probably of bearish direction on the upcoming day.
And about the strong levels that the price may need to fight in order to break it you can monitor that there is a strong support located at the price 0.8475 and I think it is hard for the price to break it down then I guess I will use it as a primary take profit level for any short positions that I may enter.
I also always keep an eye on the check and trader indicators to help me filtering the fake trend signals and they have to show a red line for the check and a red color for the trend indicator before I decide to enter the short positions.
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http://bigimage.cz/photos/20141209141810802109289.gif
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 downward direction according to the dots above 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/20141209141810659191433.gif
On the CADCHF hourly chart we can see that a strong bearish trend is happening as the Blade oscillator is now at the 0.0015 area below the level of balance and also the indicator is colored in red that is a strong indication of bearish 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 top performed at 0.8492 could be a good place to set any sell position's stop loss level at .
http://bigimage.cz/photos/20141209141810805133501.gif
analysis for today 12 / 9 / 2014
CADCHF
Resistance : R1 0.8568 R2 0.8593 R3 0.8613 R4 0.8643
Support : S1 0.8426 S2 0.8401 S3 0.8381 S4 0.8351
Open : 0.8499
High : 0.8501
Low : 0.8493
Range : 0.0008 Pips
Running Price : 0.8493
Strategy : SELL at the level 0.8493 stop loss at the level 0.8568 target take profit at the level 0.8381 or at the level 0.8351
The price is moving below the wave of EMA indicators to perform a shape of bearish direction through the day at the chart of CADCHF pair.
And with a sell signal showing on the RSI indicator which have the line going below 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 down to inform that the market bears have the control at the market for the current period.
Then I think going with the bears at the current day and keep at the market until another buy signals shown on the cart by getting the price over the wave of EMA indicators .
http://bigimage.cz/photos/20141209141811180102072.gif
For today's analysis on the CADCHF since we can see that the price located above the level 0.8481 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 bullish saturation as its last signal.
up in this situation targeting the next MBFX level located at the resistance of the price 0.8505 which could be our primary buying target and if it kept going on the same pace then the resistance located at 0.8529 could be considered as our secondary target but in case the price breaks the level 0.8466 then this would be the time to start thinking about selling orders as the price will stop heading up http://bigimage.cz/photos/20141209141811194769261.gif
analysis for today 12 / 9 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 0.8539
Retracement (50%) 0.8534
retracement (61,8%) 0.8528
Extensions (61.8%) 0.8582
Extensions (100.0%) 0.8598
Extensions (138.2%) 0.8614
Extensions (161.8%) 0.8625
calculation based on a Fibonacci retracement then today I choose sell
---------- Post added at 04:18 PM ---------- Previous post was at 04:16 PM ----------
analysis for today 12 / 9 / 2014
CAD/CHF (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 0.8539
Retracement (50%) 0.8534
retracement (61,8%) 0.8528
Extensions (61.8%) 0.8582
Extensions (100.0%) 0.8598
Extensions (138.2%) 0.8614
Extensions (161.8%) 0.8625
calculation based on a Fibonacci retracement then today I choose sell
I think that the price will continue the downside mouvement after breaking the support level at 0.8478 until it reach the support level at 0.8423 than it will rise from there.
http://i.imgur.com/SUyCORD.png