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Leo-btm
Apr 17, 2024 6:40 AM

CADCHF, Back inside the range. Long

CAD/CHFOANDA

Description

Hello traders, welcome back to another market breakdown.

CADCHF has been trading around a Key Macro level. The bulls seem to be reclaiming a KEY Macro level many times which is a bullish signal. I'm waiting for the price to pull-back to the previous S/R zone.

Trade safely,
Trader Leo.
Comments
RLinda
Since the currency pair has no clear trend, but only a sideways range, I agree with you about realizing a bounce from the range support
Leo-btm
@RLinda there are a lot of information to get from a side ways market
KaltoireCapital
Nice chart work, I believe it will pullback a bit but also depends on CAD and at the moment, CAD might be coupled with oil prices
Leo-btm
@KaltoireCapital appreciate the support mate
FXCM
Nice analysis on identifying a suitable buy zone that the price has respected multiple times in the past. I suspect the price might be above the Ichimoku cloud, which is a good sign of bullish momentum. It appears that the buy zone might align with the 50% Fibonacci retracement too. Let's see how this works out.
Leo-btm
@FXCM nice confluences to add on
Leo-btm
What do you think traders?
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