The current situation on CADCHF is quite unusual as the price is consolidating within a narrow horizontal trading range. The resistance levels are between 0.6280 and 0.6294, while the support levels are between 0.6263 and 0.6249.
To predict a bearish trend continuation, we should wait for a bearish breakout below the support range, with a 4-hour candle closing below it to confirm the breakout. This could lead to a further decline towards the 0.619 level.
On the other hand, to anticipate a bullish move, we need a 4-hour candle closing above the resistance range. This could signal a bullish continuation towards 0.634.
It is recommended to wait for a breakout and then follow the market trend accordingly.
To predict a bearish trend continuation, we should wait for a bearish breakout below the support range, with a 4-hour candle closing below it to confirm the breakout. This could lead to a further decline towards the 0.619 level.
On the other hand, to anticipate a bullish move, we need a 4-hour candle closing above the resistance range. This could signal a bullish continuation towards 0.634.
It is recommended to wait for a breakout and then follow the market trend accordingly.
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Join our Telegram channel for daily market update 👇👇
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For paid signal👇👇 t.me/linofx1999
t.me/TheAceTrading
For paid signal👇👇 t.me/linofx1999
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.