the trading rang for today is amoung the major support 0.8430 and the key resistance 0.86 the general over short thre basis is to down side targating 85 as far as area
Thread: Cad/Chf
the trading rang for today is amoung the major support 0.8430 and the key resistance 0.86 the general over short thre basis is to down side targating 85 as far as area
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analysis for today 10 / 14 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle CADCHFon the date 10 / 13 / 2014
OPEN 0.8556
HIGH 0.8557
LOW 0.8457
CLOSED 0.8460
The third resistance (R3) 0.8557 -( 0.8491 - 0.8457 = 0.0034 x 2 = 0.0069 )= 0.8626
The second Resistance (R2) 0.8491 + 0.8557 - 0.8457 = 0.8591
First resistance (R1) 0.8491 x 2 = 1.6983 - 0.8457 = 0.8526
pivot points 0.8557 + 0.8457 + 0.8460 = 2.5474 / 3 = 0.8491
Support for the first (S1) 0.8491 x 2 = 1.6983 - 0.8557 = 0.8426
Support second (S2) 0.8491 -( 0.8557 - 0.8457 = 0.0100 ) = 0.8391
Third Support (S3) 0.8457 -( 0.8557 - 0.8491 = 0.0066 x 2 = 0.0131 )= 0.8326
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After taking a quick look on the chart of CADCHF first thing you have a good sell signal on the Henkin Ashi and down arrow on the chart In the same time a sell signal occurs on the trend session indicator by showing a red bar at the last candle In additional to a sell cross taking a place on the trend following indicators Snake and T3-Clean which may be a good signal to open a sell possitions at any good place If you decided to sell you should keep an eye on the level 0.8455 as the price bounced from it the last time then you can consider it asa your first support to close your order once hitting it![]()
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As you can all realize there is a downward trend taking place on the CADCHF pair indicated by the red dots appearing on the bars the price may keep going south so long it stays lower than the level 0.8616 which is considered a strong resistance and also a weekly pivot point that of course until it hits the support at level 0.849 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 resistance 0.8616 and got itself a bullish signal via the blue dots in this case I do think that the price will be heading north till it hits the resistance 0.8688 which is the pivot level of the current week.
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As we can see a red arrow is taking place on the CADCHF chart which indicates that a bearish trend is taking place at the moment.
A top located at 0.8515 is supporting the trend for it is a very strong resistance and if the bearish trend is still strong then the price shouldn't be able to go above it.
The dots from the parabolic sar indicators are shown above the candles which gives a sign of where the price will be heading which is down in this case.
The support 0.8455 would be a great place to act as closing positions if we are to be making selling trades since the price might be heading north after hitting it.
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There is a great chance for a bearish trend to be taking place today on the CADCHF chart and that is according to the price which is currently located on a lower level than the EMA 15 line.
According to the power momentum indicator a low power of the bearish trend is shown and also it can be used as a filter for the entering the sell positions.
For more confirmation we can use the power line indicator which is currently below the 50 level giving us a good downward direction signal as a result.
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The down trend taking place at the moment on the CADCHF is taking place according to where the EMAs 5 and 6 which is below the EMA 35 as a result to that taking sell orders would be the best if a bearish direction confirmation came from the other indicators.
According to the parabolic sar indicators dots located above the candles we assume that the price would be taking a downward direction as for the MACD which is currently moving below the 0 level it does give us a sell signal.
Also the CCI line is currently in the lower level giving us by that a downward signal.
So to sum all that up I do believe that unless any bullish signal do appear selling would be the best option available at the moment.
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Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Based on the hourly chart of the blade oscillator the CADCHF is having a strong bearish trend by locating at 0.0006 below the level of balance and the indicator is red colored that means there is a strong bearish move will happen in a short time . By using moving average 5 we will notice a up slope so 0.8469 could be considered a good stop loss for if there were sell positions as it is considered the last top by using the indicators signals.![]()
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By analyzing the CADCHF we can but a bearish chanel to limit the movement of the market inti two trend lines The price is moving at the lower edge of the donchin channel so you may think about buying as long as there is no opposite signs appear on the Awesome oscillator The Awesome oscillator has a green bar appears below the level of 0 and it is considered a good buy signal Also the stostatic indicator shows buy signal by showing up intersection between the two lines near the 20 th level Till this moment bullish trend is the choise and also buying targeting the upper edge of the donchin channel is not a bad idea at all![]()
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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