Market Outlook and Analysis (Sept2019 Week3)
Currency Pair: CADCHF
Technical Analysis – CADCHF
CADCHF H4 Chart: (Trade Review) – Bearish Bat Pattern hit TP1 = +71pips)
The Pair completed the Bearish Bat Pattern and was even temporary supported by the PRZ. It came to within 5pips of the stop loss and finally moved in our favour towards the end of the trading week. Managed to hit the TP1 to close off half a position with +71pip profit.
CADCHF D1 Chart: Potential move towards 0.7300 Support
The pair moved as expected after the completion of the Bearish Bat Pattern. From the Daily charts, we could see the pair moving towards the 0.7300 support again.
CADCHF H4 Chart: Sell on rallies towards 0.7380/00
With the bearish move to potentially extend, we could look for opportunities to short on any rallies/bounce. Targets could be as low as 0.7380 / 0.7300. Let’s see how this pair opens at the beginning of the week.
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