CADCHF: You may consider this LONG opportunity!

FX:CADCHF   Canadian Dollar/Swiss Franc
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🟢Forex Pair:

Technical Analysis:
Since January 2021, the price has been following an interesting trendline, moving up until the main resistance zone at about 0.70500, breaking through a daily S/R level at 0.69600 and bouncing few times on its dynamic trendline.
On the 22th of January, the price broke the trendline, re-testing the same level twice before collapsing down under the support level .
It is currently re-testing the S/R level at about 0.69650 and the next price action on this level will be essential to understand the next market movement.

The current weekly session closed with an interesting pin bar , showing a possible rejection on that level and an upcoming new uptrend.
Also the day session closed with a strong upbar just around the S/R zone.
I'm confident to see the price pushing up until the next resistance zone and I'll be waiting for a clear rejection before planning my long position on this trade.

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,

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Excellent job!!
+1 Reply
@Dana16, Hi Dana and really thanks a lot for ur feedback! I really appreciate that :)
fantastic :D
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst, Thanks Rich! :)
Nice chart and trend line
+1 Reply
FXtrades-gp MMBTtrader
@MMBTtrader thanks a lot ! I really appreciate 😁🙏
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