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Consolidation with bearish tilt

Currency Pair:Cad/Chf
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.7343
Trend: consolidation
Possible trading range:0.72-0.75
Forecast:The presence of a falling wedge will encourage the bulls to try an upside breakout, but this will be a short-lived one because the fundamentals are against such a move. The loonie is under attack as oil prices continue to decline due to a higher oil output and weak demand
My target: 0.7423
Weekly chart (below)
Daily chart (below)
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marius24 avatar
marius24 10 8月

update:on the 4 hour chart the bulls managed to design a double bottom with its neckline situated around 0.7490. So far the bears ignored this pattern and dragged the price below that neckline. The outlook remains bullish.

marius24 avatar
marius24 19 8月

update: it seems that the bulls don't have enough power to maintain the price above 0.7490 which represents an important bullish breakout from a double bottom. Anyway the outlook remains confusing and inclined more towards a bearish bias. Current price - 0.7458

marius24 avatar
marius24 25 8月

update: It touched 0.6965 yesterday once the panic showed up into the stocks market all around the world. The price now is hovering at around 0.7113 with 300 pips lower than my target. The outlook favours a bearish continuation.

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I am bullish on this pair

Currency Pair:Aud/Cad
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 0.9561
Trend: consolidation
Possible trading range:0.9350-0.9850
Signals:The fact that 0.94 level has stopped the bears in their attempt to send this currency pair at lower levels can be seen as a bullish signal. We need an upside breakout around 0.9650 in order for this pair to escape from a descending triangle.
Forecast:Fundamentally speaking both currencies are suffering right now from lower comm…
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marius24 avatar
marius24 10 8月

update: so far i was right saying that the pair appears to be in a slightly bullish outlook. On the daily chart it can be seen ( barely) an inverted H&S pattern having its neckline unbroken around 0.9750. I remain bullish in this pair in the short term.

marius24 avatar
marius24 19 8月

update:since i put the last update the price made almost no changes and remained stuck in the same range between 0.95 and 0.97. From here there is some scope for further bullish attempts than bearish one as the RBA stopped talking down its currency. Current price: 0.96

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