Nice idea on CADCHF and there may be bullish potential as you have identified. I have identified a support level at 0.7627. It is a horizontal overlap support, with a 61.8% & 100% Fibonacci extension and 23.6% Fibonacci retracement. Stochastic has bounced off its support at 1.6% where a corresponding rise could occur. If a potential rise does happen, we may take a closer look at the 0.7692 resistance level, which coincides with the upper limit of your take profit zone. It is a horizontal overlap resistance with a 76.4% Fibonacci retracement. Looking forward to seeing how things develop.
Please have a look at my idea and we would like to hear from you.
@ICmarkets, hi there!, good to hear from you. Thanks for the extra analysis, i am currently in a CAD/CHF short a the moment, as it has retraced somewhat from yesterday. I sold at 0.7673, with the stop above the highs, look at my other analysis and let me know what you think! it was good to hear from you