CADCHF 1000 Pip Trade Incoming

Fri 10th March 2023 : Daily Currency Strength Analysis

In Today’s Video we’re looking at Trading Setups in:

• CADCHF
• AUDCHF (Covered in Video)
• GBPAUD (Covered in Video)

CADCHF 1000 Pip Trade Incoming

The CHF has appeared at the top of the tables as the strongest currency.

On the weak side of the day traders table we can see the CAD is the second weakest. 

CADCHF could trade lower towards the major support of 0.6600.

The price of CADCHF has been in a range since 2015. 

Highs of the range sit between 0.7950 and 0.7750. 

The low of the range is 0.6600, this could be an area to target for sellers. 

Recently price has traded through key lows of 0.6800, this level could be used by sellers as resistance for a short opportunity.

If the price reaches 0.6600 we could see a strong reversal from this level which could lead to a 1000 pip trade back to the range highs.

Technical Observations

• The CHF is S1 and CAD is W2 on the day traders table.
• Price is in a large trading range between highs of 0.7950 and lows of 0.6600.
• Price has broken through support of 0.6800.
• This level could be used as resistance for sellers.
• Targets will be the 0.6600 level where the price could reverse.
• If price reverses here we could see a 1000 pip trade develop back to the range highs.