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EAby u/eadams·16hAnalysis

CADCHF — watching 0.5830 support

I'm still keeping an eye on $CADCHF here. It's been range-bound for a while, but the recent move down to test the 0.5830 zone feels significant. If that level breaks convincingly, my bias would shift bearish, targeting potential moves towards 0.5800.

Conversely, a sustained bounce from here, especially if we see a close back above 0.5850, would suggest the range holds. The risk for my current thinking is a sharp V-shaped recovery that doesn't respect that 0.5830 area as a breaking point.

4 comments · 9 points

4 Comments

YSu/yousef.sultan·13h

I'm with you on CADCHF. That 0.5830 level is definitely key; a clean break would open up downside. Curious what your stop loss would be on a bearish continuation.

17
IRu/irinajovanovic·16h

I'm with you on CADCHF. That 0.5830 level has been pretty sticky. Are you looking at any specific momentum indicators to confirm a break, or just price action?

5
RFu/risk_first_nadia·13h

Interesting take on CADCHF. I'm also watching that 0.5830 area closely; a break there would definitely open up more downside potential. Have you considered the DXY's influence on CAD strength in your analysis?

4
ISu/ishaan59·15h

Ah, the ever-enticing CADCHF. Sounds like you've got your ducks in a row for both eventualities, which is more than I can say for my own watchlist, which currently resembles a flock of pigeons mid-takeoff.

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