What happened? It looks like the decline in EUR/CHF to 1…
CAD/CHF broke resistance levels - 0.7650 and 0.7710
2019-11-11 • Updated
- CAD/CHF broke resistance levels - 0.7650 and 0.7710
- Next buy target - 0.7850
CAD/CHF continues to rise inside the minor impulse wave 3, which recently broke above the two consecutive resistance levels - 0.7650 (previous buy target set in our earlier forecast for this currency pair) and 0.7710 (powerful resistance level which reversed the price in January and February). The breakout of these resistance levels strengthened the bullish pressure on this currency pair. CAD/CHF is expected to rise to the next buy target at the next resistance level 0.7850.
Similar
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.
Latest news
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
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...