Kaetea_Ng
Long

Breakout! Falling Wedge on CAD/CHF

FX:CADCHF   Canadian Dollar/Swiss Franc
Hello Traders,
We are on the daily chart on CAD/CHF.

For the next days expect bullish momentum.

S&R levels indicate possible price development.

I wish you a nice weekend.

Kaetea Ng
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Nice idea on CADCHF and there may be bullish potential as you have identified. We have identified a support level at 0.7627, which is above the level you are expecting a bounce from. 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. 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.


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