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 reached buy target 0.7600

  • CAD/CHF reached buy target 0.7600
  • Next sell target – 0.7420

CAD/CHF continues to fall inside the minor impulse wave 3 - which began earlier- when the pair reversed down from the resistance level 0.7600 (previous buy target set in our earlier forecast for this currency pair). The resistance zone near the resistance level 0.7600 was strengthened by the upper daily Bollinger Band. The downward reversal from the resistance level 0.7600 completed the previous minor ABC correction 2 from June.

CAD/CHF is likely to fall further in the active minor impulse wave 3 toward the next sell target at the pivotal support level 0.7420, which has been reversing the price from May.

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