After weathering a lengthy bearish season, CADCHF has shown a stellar performance, breaking through a major downtrend line. This key move, coupled with a breakout above a critical correction trendline, has put CADCHF firmly in the spotlight.
We’re now on the lookout for a retest of the correction trendline, which could set the stage for lucrative long entries. With price targets earmarked by red lines on our charts, there’s potential for both quick gains and more enduring positions.
For traders aiming to go the distance, maintaining a smaller position with eyes on the .77 supply area might be a strategic play as we watch CADCHF’s next steps in this new bullish chapter.”