CADCHF Rejected on the 1D MA200. Sell opportunity.

It has been more than 4 months since our last analysis on the CADCHF pair (October 10 2023, see chart below), which was a sell signal that hit directly our 0.64800 Target:


The current signal is no different, as the continuous rejection on the 1D MA200 (orange trend-line) since February 13, is giving a strong sell signal, which will be confirmed once the 1D MACD forms a Bearish Cross. As you can see, the pattern since December 2022 is a Channel Down and every 1D MACD Bearish Cross above 0.00, has formed a Lower High, hence issuing a strong sell signal. Our Target is the top of the Support Zone at 0.63500, which has been the first Target during the previous 2 Lower High rejections.


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