CADCHF Completing Correction
Are we good to go? Is it a higher low, nicely placed at the lower median line parallel of the blue fork? It looks like CADCHF has found nice support at the 0.382 retracement, which is way above the half-way of the May rally and thus seems to be a factor conducive to further up trend advancement. I find the CAD to be very strong and to have a lot of latent bullish potential, and yet it is way oversold. The CHF is still relatively weak, although not as weak as the NZD. I expect this market to make it to the prior high (the green level) or even to the blue median line. The stops for this trade idea should be kept below the lows to the left, ideally below 0.8155.
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There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell. Rather, you should use the information only as a starting point for doing additional independent research, your own due diligence, in order to allow you to form your own opinion regarding trading decisions. No assumption should be made in relation to the performance or accuracy of the methods shown. No claims are made as to the success or profitability of any of my posts.
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