TheBearTrader1

CADCHF SHORT OPPORTUNITY- 12% RETURN POTENTIAL.

Short
FX:CADCHF   Canadian Dollar/Swiss Franc
CADCHF- We can see price has broken out of this ascending TL which it was respecting and now made a lower low (potential change of directions) however before entering we need to wait for the 1H close to confirm a lower high has been made. We have a good number of confluences forming here which are, price has retraced up to the 38.2 fib level and 50EMA which is acting as support. It also looks like we are going to see a bearish wick form. To correlate with this pair we have also seen a bearish outlook on OIL today meaning CAD weakness is likely to follow. Potential 12:1 RR here.

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