Let's look at the four-hour chart. Tenkan-sen and Kijun-sen lines have merged, both lines are directed upwards. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading above Tenkan-sen and Kijun-sen lines; the Bullish trend is still strong. Merged Tenkan-sen and Kijun-sen lines have become a strong support level (0.7420). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.7640).
On the daily chart Tenkan-sen line is above Kijun-sen, the red line is directed upwards, while the blue one remains horizontal. Confirmative line Chikou Span is above the price chart, current cloud is ascending. The instrument is trading below Tenkan-sen and Kijun-sen lines; the Bearish trend is still strong. The closest support level is Tenkan-sen line (0.7399). One of the previous maximums of Chikou Span line is expected to be a resistance level (0.7680).
It is recommended to open long positions at current price with Take Profit at the level of previous maximum of Chikou Span (0.7640) line and Stop Loss at the level of Kijun-sen line (0.7420).
Canadian Dollar vs Swiss Franc
| Buy | Sell | Spread |
| 0.56916 | 0.56846 | 70 |
Scenario
| Time frame | Day's Range |
| Recommendations | BUY |
| Entry Point | 0.7463 |
| Take Profit | 0.7640 |
| Stop Loss | 0.7420 |
| Support levels | 0.7399, 0.7420, 0.7640, 0.7680 |
Alternative scenario
| Recommendations | |
| Entry Point | |
| Take Profit | |
| Stop Loss | |
| Support levels |
The material published on this page is produced by the Claws&Horns Company jointly with LiteFinance and should not be considered as the provision of investment advice for the purposes of Directive 2014/65/EU; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing prior to the dissemination of such research.
