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 H4/M30.


CADCHF has moved south since November 2011. For almost two years, and more precisely since the memorable “Black Thursday,” when happened drastic and unexpected collapse of the market caused by the decision of the Swiss National Bank (SNB) to cut interest rates and to abandon the rigid EUR/CHF exchange rate at 1.20, Support 0.7850 was broken and now market moves in consolidation.

We are currently close to downward trend line and a very important resistance zone between 50% – 61.8% of the Fibonacci correction from the last downward impulse.

CADCHF Monthly

On weekly chart we see that market has been moving for a long time in a consolidation. Taking into account the fact that it is a correction of previous falls, it seems more probable to break down from mentioned consolidation . It is worth noting, however, that the current horizontal trend is lasting already over two years and possible breakout is rather vainly expected in the near future.

CADCHF Weekly

Looking at the daily chart, we notice that less than two weeks ago market broke bottom of lasting from November last year consolidation. From yesterday, however, we are seeing an uptrend and in near future we would expect a re-test of previous support (now resistance) converging with measure 38.2% of Fibonacci correction.

CADCHF Daily

On H1 chart, however, we will see that the first supply response could be expected at 0.7455 coinciding with measured 61.8% of the Fibonacci correction from the last downward impulse. Also worth noting is the downward trend line, which has not been defeated since the beginning of March.

CADCHF H1

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