CAD/CHF - Prepare for the SNIPER SHOT!
We can see strong bullish candles breaking with no problem the last resistance area around 0.7470. Right now we can expect a likely pullback after hitting the EMA200 as it approaches to the next resistance at 0.7560 (specially considering the upcoming news for the next week). This could result in a new trend line but keeping the upward direction
The downward red line will show us the likely level where the price can reverse but it could still be quite premature to place an order. We are going to wait for a candlestick pattern in order to confirm the exhaustion of the bullish trend and possible breakout to enter short.
We should also keep in mind that the price is almost reaching the middle height of the parallel channel so we can expect a little more of bullish action. If the trend gets stronger enough it could easily break the red downward line heading to test the major resistance at 0.77
Any ways there will be a CLEAR SHOT very soon..
Hit the like button or follow me to let me know you are interested in this trade so I can keep you guys updated
I hope my analysis is useful for your next trades.
The downward red line will show us the likely level where the price can reverse but it could still be quite premature to place an order. We are going to wait for a candlestick pattern in order to confirm the exhaustion of the bullish trend and possible breakout to enter short.
We should also keep in mind that the price is almost reaching the middle height of the parallel channel so we can expect a little more of bullish action. If the trend gets stronger enough it could easily break the red downward line heading to test the major resistance at 0.77
Any ways there will be a CLEAR SHOT very soon..
Hit the like button or follow me to let me know you are interested in this trade so I can keep you guys updated
I hope my analysis is useful for your next trades.
Trade active:
Bulls didn't get to hit our targeted resistance. The price is reversing and breaking our support.
Trade active:
You can find the update of this idea at
