CADCHF: You may consider this LONG opportunity!
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
CAD/CHF
⚪Technical Analysis:
Since January 2021, the price has been following an interesting trendline, moving up until the main resistance zone at about 0.70500, breaking through a daily S/R level at 0.69600 and bouncing few times on its dynamic trendline.
On the 22th of January, the price broke the trendline, re-testing the same level twice before collapsing down under the support level.
It is currently re-testing the S/R level at about 0.69650 and the next price action on this level will be essential to understand the next market movement.
🔴Conclusion:
The current weekly session closed with an interesting pin bar, showing a possible rejection on that level and an upcoming new uptrend.
Also the day session closed with a strong upbar just around the S/R zone.
I'm confident to see the price pushing up until the next resistance zone and I'll be waiting for a clear rejection before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
CAD/CHF
⚪Technical Analysis:
Since January 2021, the price has been following an interesting trendline, moving up until the main resistance zone at about 0.70500, breaking through a daily S/R level at 0.69600 and bouncing few times on its dynamic trendline.
On the 22th of January, the price broke the trendline, re-testing the same level twice before collapsing down under the support level.
It is currently re-testing the S/R level at about 0.69650 and the next price action on this level will be essential to understand the next market movement.
🔴Conclusion:
The current weekly session closed with an interesting pin bar, showing a possible rejection on that level and an upcoming new uptrend.
Also the day session closed with a strong upbar just around the S/R zone.
I'm confident to see the price pushing up until the next resistance zone and I'll be waiting for a clear rejection before planning my long position on this trade.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
Похожие публикации
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.