What happened? It looks like the decline in EUR/CHF to 1…
CAD/CHF reversed from support zone
2019-11-11 • Updated
- CAD/CHF reversed from support zone
- Next buy target - 0.7400
CAD/CHF recently reversed up with the daily Morning Star from the support zone lying between the key support level 0.7250 (which reversed the earlier minor correction 2 in June) and the lower daily Bollinger Band. The upward reversal form this support area started the active impulse wave (3) – which today broke the daily down channel from January. CAD/CHF is expected to rise toward the next buy target at next resistance level 0.7400 (top of the previous wave (iv)).
USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
Crash of LUNA ecosystem and halving cycles. Glimpse into the future of the crypto market with FBS experts!
Last week blew traders' minds! The US dollar dropped for the first time in seven weeks after Jerome Powell's speech on Tuesday…
The pandemic continues hurting economic activity in China, the war in Ukraine is hitting the entire European economy, and the Fed's efforts to control inflation threaten to trigger a recession.