• CADCHF dropping nicely, potential for further drop!

    CADCHF has broken major support-turned-resistance level at 0.7809 (Fibonacci retracement, horizontal overlap resistance) and remains below our Ichimoku cloud signalling that there is bearish momentum. Our next resistance is at 0.7830 which is above our 61.8% Fibonacci retracement and also at a swing high resistance. Price could potentially drop all the way to major support […]

  • CADCHF approaching support, potential bounce!

    CADCHF is approaching our first support at 0.7758 (horizontal overlap support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). A strong bounce might occur above that level, pushing price up to our major resistance at 0.7910 (horizontal swing high resistance, 61.8%, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure, in line with our […]

  • CADCHF approaching support, potential bounce!

    Price is our first support at 0.7608 (horizontal swing low support, 61.8% Fibonacci extension, 23.6% Fibonacci retracement). A strong bounce might occur above this level, pushing price up to our major resistance at 0.7713 (horizontal swing high resistance, 100% Fibonacci extension). Stochastic (55,5,3) is also seeing a bullish exit and is a good precursor for […]

  • CADCHF approaching first resistance, potential drop!

    CADCHF is approaching our first resistance at 0.7562 (horizontal overlap resistance, 50% Fibonacci retracement, 100% Fibonacci extension). A strong reaction might occur at this level, pushing price down to our major support at 0.7429 (horizontal overlap support, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is reacting off […]

  • CADCHF testing major resistance, potential breakout!

    CADCHF is testing major resistance at 0.7412 (Fibonacci retracement, horizontal swing high resistance) and it’s starting to break out of our triangle formation. Our next major resistance is at 0.7434 which is a fibonacci extension, retracement and swing high resistance level. If price does drop, we’re seeing it potentially going all teh way down to […]

  • CADCHF has made a bullish exit, potential for a mega reversal!

    CADCHF has made a bullish exit of its long term descending channel, this is a huge sign for a potential bullish reversal. Our 1st support is at our breakout level of 0.7386 and we can see two major resistance levels at 0.7439 (Fibonacci retracement, horizontal overlap resistance) and 0.7469 (Fibonacci retracement, horizontal overlap resistance). RSI […]

  • CADCHF on major channel resistance, possible further drop

    CADCHF is now testing our long term channel resistance once again and a further drop could occur from this level as it has respected the channel so well so far. Our 1st resistance is at 0.7438 (Fibonacci retracement, horizontal overlap resistance) and our next support is all the way down at 0.7368 (Fibonacci extension). Trading […]

  • CADCHF forming a major reversal, keep an eye out!

    Price is forming a really strong potential reversal signal at 0.7876 (76.4% Fibonacci retracement, bearish bat formation, horizontal swing high resistance, bearish divergence) and a strong reversal could occur at this level to potentially drive price down to 0.7810 before 0.7738 (61.8% Fibonacci retracement, horizontal swing low support). Our next major level of resistance is […]