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 reversed from support zone

  • CAD/CHF reversed from support zone
  • Next buy target - 0.7600

CAD/CHF continues to rise – after the price earlier reversed up from the support zone lying between the pivotal support level 0.7430 (which reversed earlier impulse waves 1 and (i)), lower daily Bollinger Band and the Fibonacci cluster made out of the 61.8% Fibonacci correction of the previous C-wave from April and 38.2% Fibonacci correction of the previous longer-term upward price move from the start of February.

CAD/CHF is likely to rise further to the next buy target at the resistance level 0.7600 (which reversed earlier minor impulse wave (i)). Strong support zone remains near the support level 0.7430.


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