Receive the latest alerts via email

Trade of the Day: CAD/CHF

By: Dima Chernovolov CAD/CHF continues to rise after the recent breakout of the 4-hour Triangle chart pattern which was previously by Autochartist. Autochartist rates the quality of this Triangle at the 5-bar level – which reflects the slow Initial Trend (2 bars), average Uniformity (5 bars) and higher Clarity (6 bars). CAD/CHF is expected to…
Trade of the Day:  CAD/CHF

By: Dima Chernovolov

CAD/CHF continues to rise after the recent breakout of the 4-hour Triangle chart pattern which was previously by Autochartist. Autochartist rates the quality of this Triangle at the 5-bar level – which reflects the slow Initial Trend (2 bars), average Uniformity (5 bars) and higher Clarity (6 bars). CAD/CHF is expected to rise toward the forecast price 0.7473– in line with the earlier upward reversal from the key support area shown below

As can be seen from the daily CAD/CHF chart below, the price earlier reversed up from the support area lying between the key support level 0.7300 (which has been repeatedly reversing the price from the start of August) and the lower daily Bollinger Band. The proximity of this support area increases the probability CAD/CHF will continue to rise toward the forecast price 0.7473.

Total
0
Shares
Previous Post

UK100 is approaching a resistance line of a Channel Down. It has touched this line numerous times in the last 8 days.

Next Post

LTCUSD is quickly approaching the support line of a Falling Wedge. We expect either a breakout through this line or a rebound.

ARTÍCULOS RELACIONADOS
Trade of the Day:  GBP/CAD

Trade of the Day: GBP/CAD

GBP/CAD recently broke the key 30-minute resistance level 1.6152, which was recently identified by Autochartist. Autochartist rates the significance of this resistance level at the 3-bar level – which is the result of the three previous reversals from this price level. GBP/CAD is expected to rise further toward the forecast price 1.6258. As can be…
Read More
Trade of the Day:  EUR/CAD

Trade of the Day: EUR/CAD

EUR/CAD continues to fall toward the key support level 1.4491, which was previously identified by Autochartist. Autochartist rates the Significance of this support level at the 5-bar level – which is the result of the five previous reversals from this price level. EUR/CAD is expected to continue to fall toward the support level 1.4491. As…
Read More