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SamKent
Oct 23, 2014 12:52 PM

CAD/CHF 4h Price Action Analysis  Long

Canadian Dollar/Swiss FrancFXCM

Description

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.
Comments
HamedAghajani
Similar Idea.
SamKent
Yeah, looks good, thanks a lot :)
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