🔻 CAD/CHF Swing Short Setup
Sell Limit Entry: 0.6040
Stop Loss: 0.6115 (above recent daily highs)
Take Profit 1: 0.5800
Take Profit 2: 0.5700
Risk-to-Reward: ~2.6:1 to TP1, ~4.5:1 to TP2
Fundamentals:
CAD is weakening from falling oil, soft economic data, and global trade risk.
CHF is gaining on risk-off sentiment and its safe-haven status.
Technical Confluence:
Monthly chart just broke below long-term support at 0.6000 for the first time ever.
Weekly chart shows price retesting 0.6000–0.6050, a perfect break-and-retest setup.
Daily shows price stalling beneath resistance without strength — no bullish breakout attempt yet.
Target Logic:
TP1 at 0.5800 is just above the panic wick zone — realistic and conservative.
TP2 at 0.5700 aligns with the extreme 2015 SNB spike low — stretch target only if momentum continues.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.