CAD/CHF 4H Chart: Possible breakout - Trade Pattern Ideas - Dukascopy Bank
Wed, 07 Nov 2018 07:37:07 GMT
Source: Dukascopy Bank SA
Indicator
4H
1D
1W
MACD (12; 26; 9)
Sell
Buy
Buy
RSI (14)
Neutral
Neutral
Neutral
Stochastic (5; 3)
Buy
Neutral
Neutral
Alligator (13; 8; 5)
Sell
Buy
Buy
SAR (0.02; 0.2)
Sell
Sell
Buy
Aggregate
⇒
⇒
⇒
The Canadian Dollar is trading in an ascending triangle pattern against the Swiss Franc. The currency pair bounced off its lower boundary at 0.7320 on September 8 and reached the upper border a few days ago.
Currently, the exchange rate is trading near the bottom border of the triangle pattern at 0.7629 and could be set for a breakout.
If this breakout occurs, the CAD/CHF currency pair could aim at a support cluster formed by the combination of the weekly and the monthly PPs near the 0.7580 during the coming trading sessions.
However, it is important to note that the 200-hour SMA at 0.7609 could provide support for the currency exchange rate from falling.
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