Canadian Dollar/Swiss FrancUpdated CADCHF is Indecisive
This pair has been moving in a mostly sideways channel for a while now with no clear direction.
Currently it has broken above long standing trend line and two support lines.
At this stage I think price will move back down around 0.75500 and re-touch trend line. The stock has also been over bought for a while.
After this it is possible it could start a new uptrend or down trend. Based on the over all look of the chart and the stock I think it will make more downside but will wait for some confirmation candle sticks before entering a trade
Currently it has broken above long standing trend line and two support lines.
At this stage I think price will move back down around 0.75500 and re-touch trend line. The stock has also been over bought for a while.
After this it is possible it could start a new uptrend or down trend. Based on the over all look of the chart and the stock I think it will make more downside but will wait for some confirmation candle sticks before entering a trade
Note
Currently touching bottom of channel. Will re-analyse chart for buy or sell
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.