CADCHF Update

Hello Trader, how is your trading week so far?

For me, its been difficult to find trade opportunities… mostly because of the fundamental announcements…

Last week we had the NFP report and the FOMC statement, this week was the interest rate announcement from the ECB and BoE plus the RBA… And if you add a few unemployment reports you’ve got a fundamentally driven week…

Well… guess what? In the next two weeks there arent many important fundamental announcements, so the market should give us plenty of opportunities (I hope so…)

Anyway… Last week I talked about the CADCHF and my trading plan for it…

Lets go through it!

CADCHF Analysis

Like I wrote about in my last CADCHF Analysis, it is trading in a very clear bullish condition and it is likely to continue its way up, until it reaches its next LT resistance level…

Therefore we can look for long opportunities.

In fact, right now it looks like its being rejected from the ST support level.

Here is how the ST chart looks like:

CADCHF 1H

Its clear that the CADCHF its being rejected from that level, so it might be a good time to consider looking for long opportunities.

Your turn

What do you think? Are you trading the CADCHF?

What other currency pairs are you trading?

Has it been difficult for you to find trade opportunities this week?

Share your thoughts!

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .

  • it retraced to .833 and I went long there. so far its doing well

    • Raul Lopez

      Good luck Craig!

      For how long are you considering holding this trade?

      Please let me know.

      • holding until .8405 – SL.8318

        • Raul Lopez

          Alright… I was thinking about that ST resistance level…

          Good luck!

          • closed it at TP. looking at eurcad now

          • Raul Lopez

            Ufffff the way to go Craig! Congrats for that trade!

  • Waqas Khan

    thanks

    • Raul Lopez

      NO problem Waqas, what other currency pairs are you monitoring?

      Have a great weekend!

  • dominiek

    thanks Raul… ur signals always very good… been buying cadchf in the dips for some time… very successfull

    • Raul Lopez

      Good one Dominiek! right now buying in dip is the way to go in the CADCHF…

      Good luck!