CADCHF sale .74450
Target 0.73350, 0.73850
Stop Loss .75000
Mid Term Trade
Note: This is only for Educational Purpose this is not Investment advice.
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Previous view: Odds of a bull pullback are medium/high, stay bullish and buy at any low point while we don't break the 0.74400 bottom level, which will confirm the bearish pressure.
Actual outcome: Prices tested 0.74400 bottom level; although the was a tiny rejection, the bearish pressure has been confirmed.
Possible targets: @0.74000 (+30pips) and @0.73640...
After prices settled in the support zone comprising the year's low, market was subject to a bull reversal with a test of 0.74800. Odds of a continuation remain medium/high however bears kept putting pressure the whole week.
Possible targets : @0.74800 (+30pips) and @0.75400 (+90 pips) or @0.74000 (+40pips) in case of a reversal.
Advice : Stay bullish and buy at...
CADCHF got rejected by the major support at 0.73875. The pair broke to the upside the descending trend line of the descending channel. Before the breakout there was a double bottom formation at 0.73675 and a divergence on RSI on H4 and a hiddendivergence on H1
I am expecting an upside movement to 0.74450 with an entry if there is a retracement at 0.74220 and a...
Price is in a downtrend making a series of lower lows & highs. Lower high now being made retesting previous support as new resistance, along with the 61.8 fibonacci pullback region where price is currently rejecting & struggling to break higher. Anticipating a lower low to occur next going into the upcoming week.