+ 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.
I am already 120 pips in on this trade (check past analysis) from a sell limit order.
As you can see price action has been respected between the trend line resistance (4th touch) and the support level (5th touch).
I have left this trade open over the weekend, however there maybe another entry point depending if the bearish cande continues on market open.