When it comes to the technical analysis of CADCHF , it is still in downtrend and likely to get at least 100 Pips to the downside. Based on technical analysis, it looks weak even in higher time frames and smaller time frames alike. That's why I came to this conclusion that this currency pair is still in downtrend. However, if the price breaks the above supply zone, don't go short. If you are going short, better place the stop above the supply zone and should wait for a proper pullback to go short.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
If you find this technical analysis useful, please like & share our ideas with the community.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.