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USD/CAD: Flipped support pushing the price towards the swing high

Trend AlertsMay 14, 2020
USD/CAD has been bullish for the last three days. The daily chart shows that the price upon finding its support at a strong buying zone has been heading towards the North. Yesterday’s candle came out as a bullish candle with a long lower shadow. The price had a bearish correction. It seems that the price has found its support. The pair may offer a long entry upon a bullish breakout. Chart 1 USD/CAD H1 Chart The chart shows that the price had a rejection at 1.41170 after making a bullish move. It then had a rejection again and headed towards the South. As of writing, the last bearish candle closed within 1.40700. The level may hold the price as a level of support. If it produces a bullish reversal candle, the buyers may go long above the level of 1.41170. Trade Summary Entry: Buy above 1.41170 Stop Loss: Below 1.40700 Take Profit 1: 1.41400 Take Profit 2: 1.41540 Take Profit 3: 1.41800
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GBP/CHF: Flipped resistance is in play

Trend AlertsMay 13, 2020
GBP/CHF produced a bearish candle on the daily chart yesterday. The price made a bullish correction on the H1 chart. As of writing, the price has been bearish in the last candle. The price finds its resistance at a flipped level. If the level produces a bearish reversal candle, the price may head towards the South to make a breakout at yesterday’s lowest low. That would drive the price towards the South further with more bearish momentum. Chart 1 GBP/CHF H1 Chart After being very bearish, the price had a bounce at 1.18750 and had an upside correction. It headed towards the North with a moderate bullish momentum. It had a rejection at 1.19430, where the price had had a bounce earlier. If the level of 1.19430 produces a bearish reversal candle, the sellers may go short below 1.18750. Trade Summary: Entry: Sell below 1.18750 Stop Loss: Above 1.19430 Take Profit 1: 1.18465 Take Profit 2: 1.18300 Take Profit 3: 1.18000
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