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he CAD/CHF pair has been the victim of risk-aversion as a result of a poor growth outlook for the United States, but, the range bottom the CAD/CHF pair is flirting with now, should nonfarm payrolls out of the United States come in at-or-greater than expectations
CAD/CHF
Resistance and Supporting
Resistance 1 - 0.7506
Resistance 2 - 0.7518
Resistance 3 - 0.7529
Supporting 1 - 0.7485
Supporting 2 - 0.7475
Supporting 3 - 0.7446
CADCHF had been rejected by the 0.9459 support level yesterday, and the rejection effect still occur until now. Now CADCHF is moving near the 0.9506 resistance level. If CADCHF can break that resistance level, this pair may continue going up to the next resistance level at around 0.9554
we can see that the pair has closed it's daily candle above 0.8000 . so , that's means that up trend is expected and the pair might head to 0.8050 and then 0.8080 ,but also the hourly correction is expected before continue in the up trend
CAD/CHF's strong rebound this week suggests that a short term bottom is formed at 0.8408 on bullish convergence condition in daily MACD and RSI. Further rebound would likely be seen to 55 days EMA (now at 0.8853
On the last Friday, CADCHF had been rejected strongly by the 0.9554 resistance level. Then, that rejection also formed a pin bar candle on daily time frame. So, I think CADCHF may falls to the support level at 0.9459 today or even to the lower support level at 0.9417 if CADCHF can break 0.9459 support level.
CADCHF has broken the 0.9506 support level. Then, in my view the bearish movement still strong enough and it may continue. So, I think CADCHF still has a potential to continue falling today and reach the next support level at around 0.9459.
he CAD/CHF pair has been the victim of risk-aversion as a result of a poor growth outlook for the United States, but, the range bottom the CAD/CHF pair is flirting with now, should nonfarm payrolls out of the United States come in at-or-greater than expectations
bullish trend seems to be taking place on the cadchf pair and that’s according to the green color shown by the Bollinger Bands indicator determining by that the main market direction. A buy signal is indicated from the Simple Moving Average indicator and that is by giving us buy signal.
This pair can continue bullish trend, now current price at 0.7413 and strong support at level 0.7393 in hourly time frame. there is possible chance price will move to up side. then next high price is 0.7463
I suggest to entry BUY with stoploss at 0.7378 and take profit at 0.7463
I hope you can earn consistent profit from my signal, good luck
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