Gold-Tech

💱 CADCHF - Consolidation before the breakthrough

Long
FX:CADCHF   Canadian Dollar/Swiss Franc
CADCHF is forming a triangle. Inside the range, I drew a local upward support line to clearly understand the situation. A consolidation is forming that prepares the price for a resistance breakout.

TA on the high timeframe:
1) A consolidation in the 0.68000-0.67200 range is forming after a rally to 0.68030. Buying market is quite strong
2) The liquidity area, which is interesting for the price, is above 0.68000, a false breakdown is possible.

TA on the low timeframe:
1) Price forms a pullback to 0.382 Fibo and returns behind 0.236, confirming a local support line.
2) Nearest retest of the triangle resistance will cause price to go through it.
3) If resistance is broken through, the strengthening of the currency pair will continue. Medium-term target - resistance at 0.69332

Key resistance📈: 0.68030
Key support📉: 0.67827, 0.67727

All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔

FREE TELEGRAM:

🌹 Telegram channel: t.me/Go1dTech

😍 My contact: t.me/GoldTech
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.