What happened? It looks like the decline in EUR/CHF to 1…
CAD/CHF still remains in favor of the bears
2019-11-11 • Updated
CAD/CHF is recovering from October 25th lows and remains below the 200 SMA at H1 chart. The 200 SMA still provides dynamic resistance and it coincides with the Fibonacci level of 65% at 0.7788. We’re expecting a re-take of the bearish trend across the board, with a first target placed at 0.7703, ahead of the 0.7672 level, which is the -23.6% Fibo zone.
RSI indicator is entering at the negative territory, supporting the bearish scenario.
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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.
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone