From Investor to Scalper – series of studies created in cooperation with broker BDSwiss, in which we take a financial instrument and the analysis includes a detailed look at the value from the monthly chart and ending with 5/15 minutes.


Currency pair CADCHF since November 2011 moves south.
For nearly two years, and more particularly from the memorable “Black Thursday”, when there was a drastic and unexpected collapse of the market caused by the decision of the Swiss National Bank (SNB) of cutting interest rates and abandon  fixed exchange rate of EUR/CHF at a height of 1.20 which resulted in breaking important support 0.7850, market moves in consolidation.

As long as the supply zone between the levels of 50% – 61.8% Fibonacci correction of the last downward impulse is not resolved, there will be a bearish trend.

CADCHF Monthly
CADCHF Monthly

Looking at the weekly chart we see that market has already defeated the bearish trend line , however around 50% Fibonacci correction last week there was supply response. In the near future we expect declines and re-test of that downtrend line and because two years we have seen consolidation is not ruled out that the market in the near future will not come back to the declines.

CADCHF Weekly
CADCHF Weekly

On the daily chart, we see that since mid-April, market moved in a downward channel, and perhaps just in the vicinity of the upper limit of that channel can reach a potential bearish correction.

CADCHF Daily
CADCHF Daily

Looking on H1 chart we see that market today defeated local support 0.7659 and in near future we expect a test of level 0.7626, defeated could pave the way for further declines in the vicinity of 0.7575.

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Use analysis to invest with Broker BDSwiss, with whom at the time of the creation of the analysis  the spread on the CADCHF pair was 1.9 pips.

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