CADCHF approaching resistance, potential drop!
CADCHF is approaching our first resistance at 0.7632 (horizontal swing high resistance, 100% fibonacci extension, 50% fibonacci retracement) where a strong reaction might occur below this level, pushing price down to our major support at 0.7534 (horizontal swing low support, 50% fibonacci retracement, 100% fibonacci extension). A breakout below our intermediate support at 0.7588 (horizontal swing low support, 23.6% fibonacci retracement) might provide the bearish accleration to our major support target.
Stochastic (89,5,3) is also approaching our resistance and a reation below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (89,5,3) is also approaching our resistance and a reation below this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
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