CAD/CHF 4h Price Action Analysis

FX:CADCHF   Canadian Dollar/Swiss Franc
49 2 0
The CAD/CHF             has been building some bullish momentum. The sellers are still present as indicated by the long upper wicks, however, the pair seems to be creating a slow and steady sequence of higher lows, as well as clearing the 50% fib with a massive 2 way candle. All in all, we'd be interested buyers on a clearing of the 61.8 fib, we feel like once that resistance is clear we should make a round trip back to the 0.861 highs. If the pair does break the 0.844 lows with some seller conviction we'd be looking for pullbacks for shorting purposes.
Similar Idea.
+1 Reply
SamKent HamedAghajani
Yeah, looks good, thanks a lot :)
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