Technician
Long

CADCHF: Resuming Bullish Trend?

FX:CADCHF   Canadian Dollar/Swiss Franc
918 6 18
CADCHF             has been trading in a clear rising channel for a while, where the latest bearish dip was probably a mere correction following the earlier breakout above 0.8400, the sell-off pulled the price back to retest that broken resistance, which successfully changed role to support and the price was rejected, in an attempt to resume the overall bullish trend within the context of the nicely drawn rising channel.

If to trade this channel, i would look to long the pair near 0.8465 level, with an initial target near the latest swing high at 0.8585, followed by the ceiling of the channel, which is a dynamic target. Only a break with stability(at-least a daily closing) below 0.8400-0.8380 major support would threaten for a reversal

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Technician
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Hope you are fine thanks for this post
+1 Reply
VelsonChew
2 years ago
Now the daily chart had show us up trend, may I know when we should cancel this but limits if the price didn't come back to 0.8465 ???
Reply
Technician TOP VelsonChew
2 years ago
if we reach target
Reply
VelsonChew Technician
2 years ago
Thanks for your concern. However that is error sentence in my comment, it should be "buy limit"
Reply
VelsonChew VelsonChew
2 years ago
Is That This trade is cancelled due to reach target?
Reply
Technician TOP VelsonChew
2 years ago
Yes there was no trade.
Reply
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