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
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