Market Outlook and Analysis (Sept2019 Week4)
Currency Pair: CADCHF
Technical Analysis – CADCHF
CADCHF H1 Chart: (Trade Review) – Added to Shorts and stopped out = (+0pips & -23pips)
From the initial shorts from last week’s Bearish Bat. Closed out half the trades at TP1 with a +71pips profits. It then formed a smaller Bat Pattern on the H1 for another short. Eventually trades got stopped out at 0.75188 (+0pip and -23pips). All trades closed.
CADCHF D1 Chart: Potential move towards 0.7300 Support
The pair could potentially see more downside. The Bearish Bat Pattern is still in play and we could potentially see price going towards the 0.7380/00 levels.
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.
A Special Invitation
Calling out to those of you who are based here in Singapore. We are running a 3-hr Workshop on the 10th October (7pm). Best suited for people who are open to explore Forex Trading, currently trading but still not getting the results your desire and for those who wants to make a difference in their Financial Goals.
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