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CADCHF has broken the support level at 0.9554, but after that, this pair trying to reach the 0.9554 level again. Then, if CADCHF can break that resistance, I think this pair will turn the direction and go up to the higher resistance level at 0.9600. But if fail, CADCHF will be rejected by 0.9554 level and fall to the support level at 0.9506
If we look on the daily time frame, the previous candle is a bullish engulfing pattern. So, I think CADCHF has a potential to go up today. If CADCHF can break 0.9554 resistance level, I expect CADCHF can rise and reach the resistance level at 0.9600
we see the price is moving inside a rectangle on the 1hr time frame in range of about 50 pips so if the price closes above 0.9580 by 4hr candle we will buy it targeting 0.9635 and our stop loss will be a close by 4hr candle below the 0.9580 level and if the price closes below 0.9522 we will sell it targeting 0.9478 and the stop loss will be a close of 4hr candle above 0.9522
price close above support of 0.8500 and I think we will see correction to level 0.870 but if price break the low of 0.8400 we will see further landing on this pair
Cad/Chf technical analysis for 01.10.2012 by using : Auto pivot indicator.
resistance 3:0.9615
resistance 2:0.9592
resistance 1:0.9571
pivot point :0.9548
support 1:0.9526
support 2:0.9503
support 3:0.9481
CADCHF has touched and also has been rejected by the 0.9506 support level. Now, I think CADCHF will try to go up and reach the resistance level at 0.9554. But if CADCHF can fall again and even break 0.9506 support, CADCHF will continue falling to the lower support level at 0.9459
Cad/chf technical analysis for 03.10.2012 by using : Auto pivot indicator.
resistance 3:0.9607
resistance 2:0.9584
resistance 1:0.9548
pivot point :0.9525
support 1:0.9489
support 2:0.9466
support 3:0.9430
CADCHF is in bearish sentiment now, this pair still moving below the 0.9506 resistance level. So, CADCHF still has a chance to fall and touch the support level at 0.9459. But if CADCHF can break the yesterday's high, that bearish scenario will fail and CADCHF will form a double bottom pattern
Cad/chf technical analysis for 04.10.2012 by using : Auto pivot indicator.
resistance 3:0.9575
resistance 2:0.9552
resistance 1:0.9525
pivot point :0.9505
support 1:0.9481
support 2:0.9458
support 3:0.9434
we have a resistance level on the daily chart @38.2% so i predict that this pair will move downward on the short term and i suggest selling it now our target point will be@50%.