CADCHF Testing Its Resistance, Remain Bullish
Buy above 0.7745. Stop loss at 0.7714. Take profit at 0.7807.
Reason for the trading strategy (technically):
CADCHF is testing its resistance at 0.7745 (38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to rise to its resistance at 0.78070 (horizontal swing high resistance) if broken.
Stochastic (55, 5, 3) bounced from its support at 7.7% where a corresponding rise is expected.
Reason for the trading strategy (technically):
CADCHF is testing its resistance at 0.7745 (38.2% Fibonacci retracement, horizontal overlap resistance) where we expect price to rise to its resistance at 0.78070 (horizontal swing high resistance) if broken.
Stochastic (55, 5, 3) bounced from its support at 7.7% where a corresponding rise is expected.
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