CAD/CHF WAITING FOR SHORT TRADE
On CAD/CHF, we have a bearish setup: there's a trendline supporting the price decline. The price at the level of 0.6540 has broken the low of July 21st, and what I expect is a retest of the break, and if there are operational confirmations, one could consider opening a short position. Personally, I don't have a strategic operation in this exchange. What I see is a truly strong Swiss franc in the last month, with a weak Canadian dollar, which is further amplified by a weak US dollar. This morning, the price broke another demand zone, supporting a bearish view. Tonight, we have the Fed rates, so keep an eye out for potential volatility. Let me know what you think. Happy trading to everyone from Nicola, the CEO of Forex48 Trading Academy.
🏆 Exclusive access to Signals, Strategies, and 1-1 Mentorship: forex-48.com/trading
📊 FREE Watchlist: forex-48.com/free-watchlist
📚 FREE Course: forex-48.com/free-education
🤑 FREE Signals & Setups: t.me/Forex48TradingAcademy
📊 FREE Watchlist: forex-48.com/free-watchlist
📚 FREE Course: forex-48.com/free-education
🤑 FREE Signals & Setups: t.me/Forex48TradingAcademy
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.