Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

CAD/CHF: sell target - 0.7250

By: Dmitriy Chernovolov


  • CAD/CHF falling inside minor impulse wave 3
  • Next sell target - 0.7250 

CAD/CHF continues to fall inside the 3rd minor impulse wave 3 from the start of this month. This impulse wave started earlier – when the pair reversed down from the resistance zone lying between the resistance level 0.7440 (which also previously reversed the (a)-wave of the preceding ABC correction 2), the upper daily Bollinger Band and the 50% Fibonacci Correction of the previous sharp downward impulse wave 1 from May.

Having recently broken the daily up channel from August - CAD/CHF can be expected to fall further toward the next sell target at the support level 0.7250 (which reversed previous (b)-wave in September).

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