. There is still a possibility of temporary retracement to suggested resistance line (0.7488). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADCHF is in a range bound and the beginning of downtrend is expected.
. Price is below WEMA21, if price rises more, this line can...
Looking into the weekly chart we can see that there is a strong overall down trend for this pair. As we come into our lower time frames the Daily/ 4hr we have a smaller bullish trend taking place inside of the overall trend. Do too fundamentals which took places yesterday we had a strong down movement in this pair which has bought us back too the bullish trend...
+ Daily Trendline broken
+ Good Bullish Momentum
+ Fundamental strong CAD
+ Waiting for a Break and Retest Scenario
CAD Interest Rate Decision, not the best for SwingTrading, if we hold rates we can see really good momentum to the Upside!
Risk to Reward: 1:2,25
. There is a possibility of temporary retracement to suggested support line (0.7460). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADCHF is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.