CADCHF Above its 1D MA50 and bullish
The CADCHF pair closed yesterday above its 1D MA50 (blue trend-line) for the first time since November 08 2022. This is a bullish break-out opportunity targeting the 1D MA100 (green trend-line) as every prior time this break-out took place, the price always hit the 1D MA100 within the 6 month Bearish Megaphone pattern.
Note that the 1D RSI being on Higher Lows, supports the bullish case.
A break below the 0.67750 Support though will be a sell signal targeting 0.6660, which represents a -4.50% drop from the January 13 High, which is an average decrease since June 2022.
Previous CADCHF signal:
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Note that the 1D RSI being on Higher Lows, supports the bullish case.
A break below the 0.67750 Support though will be a sell signal targeting 0.6660, which represents a -4.50% drop from the January 13 High, which is an average decrease since June 2022.
Previous CADCHF signal:
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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