Breakout opportunity for CADCHF
Price is moving up to test resistance again. Price is looking bullish right now so we are going to try to play for a breakout move. Price was previously rejected at this resistance level but failed to trade back down to the support region of the range. This gives some evidence that there is a lot of bullish action around this area. If price manages to make a strong move past our resistance region, there is a good chance for a continuation. Otherwise we will look to short back down into the range to support level. We will see how it plays out. Always manage your position size and risk. Happy trading!
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.