• Boon Hooi

CADCHF: Approaching Buy Zone

Currency Pair: CADCHF

Market Outlook and Analysis (2020 WW30)

CADCHF H4 Chart: Pair ranging since beginning of June

CADCHF H4 Approaching Buy Zone

This pair fell into a ranging mode since the beginning of June. Now, we seem to be approaching the support zone at again at 0.6880/0.6900 levels. It would be ideal to see a nice bullish reversal candle at the Buy Zone. This will give us an opportunity to go long for a full potential 200 pip move to the upside.

Let’s observe how the price reacts to the Buy Zone


Complex RSI Formation

The CADCHF missed the Bearish Shark entry point by a mere several pips. On hindsight, the Bearish RSI Divergence close to the Sell Zone should have been sufficient to take the short trade, hence missing out on a nice bearish move to the down side.

The setup that we will be looking for this coming week will be to go long at the Buy Zone, which is about 30 pips away. With the complex RSI at the oversold area, we could see a potential bounce up at the beginning of the week, only to test the low (or the Buy Zone) again. This will then give is a very good opportunity to go long on the pair.


Email us to explore Harmonic Pattern Trading

Question….. Is it time that you add on Harmonic Pattern Trading to your trading knowledge?

- different patterns developing

- on the various currency pairs, indices, metals and energy

- on multiple time frames from 1min charts (if you really must) to the Daily charts

Do you really need 20 trading opportunities each day? How about only 20 quality, carefully selected trade opportunities per week, only taking these trades when it is aligned with your own analysis?

Drop us an email at support@harmonicforex.com to explore more

We would like to hear from you



HarmonicForex is a Forex trading consultancy and education firm based out of Singapore.  We are Asia's only Harmonic Pattern Trading academy accredited by Scott Carney, the father of Harmonic Trading.



  • Facebook Social Icon

Copyright 2017