CADCHF is testing a key daily level.
Depending on the reaction of the market to that I see two potential scenarios:
- To short with a confirmation, I will wait for a bearish breakout of a rising parallel channel.
Once its support is broken, bearish continuation will be expected to 0.74 level. - To buy with a confirmation, wait for a bullish breakout of a horizontal key level (daily candle close above).
Once the underlined resistance is broken, bullish continuation will be expected to 0.76 level.
Taking into consideration that the market is trading in a long term bullish trend,
I remain bullish biased.
What do you think will happen?
Note
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✅Join My Telegram Channel: t.me/VasilyTrading
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✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
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.