CHF and CAD
Yesterday I wrote about the strengthening of the US dollar, and today we are able to observe the effect of yesterday’s strengthening in many currency pairs. For a week now, I have been showing where we are on the chart and that we are waiting for an increase. Unfortunately, collecting at the level took a week of time, but finally we got out of the downward trend in both currency pairs. USDCHF has nicely crossed the trend lines, which is already considering the chart in the long position category, as I wrote earlier.
USDCAD broke through the resistance with good intensity but is in a slightly different situation than USDCHF and there is no single clear signal for the long term trend here yet.