A yearly support zone dating back to 2022 was touched by CADCHF. The price bounced off that zone.
But there is a lack of liquidity, making it difficult to trade long.
The price is likely to retest the resistance level at 0.6800 and make a bauble bottom pattern,
But this time, there might be a liquidity hunt for orders below 0.6800. You should wait until the hunt is over (and it will be) and then consider buying at 0.70.
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But there is a lack of liquidity, making it difficult to trade long.
The price is likely to retest the resistance level at 0.6800 and make a bauble bottom pattern,
But this time, there might be a liquidity hunt for orders below 0.6800. You should wait until the hunt is over (and it will be) and then consider buying at 0.70.
----------------------
Let me know your thoughts in the comments, and show your support by liking the idea.
Please follow if you're interested in more ideas like this.
Your support is greatly appreciated!