CAD/CHF: Ready to Break Out? Edge-Forex is Bullish on This One!
So, here’s where we’re at: CAD/CHF has been hanging out in this tight box between 0.6230 and 0.6430 for a while, just begging for a breakout. And Edge-Forex is calling it – we’re leaning bullish on this setup. Here’s why. 👀
Top of the Range Pressure 💥
Right now, price is sitting right up against that 0.6430 resistance, and with the way momentum is building, it’s looking ready to pop. If it breaks above, this could be our ticket to a bullish ride up.
RSI is Supporting the Move 📊
RSI is up around 65 – not quite overbought, so there’s room to push higher if this breakout takes off. This is a classic bullish sign, especially with price testing resistance at the top of the range.
Breakout Targets 🎯
If we see that breakout hold above 0.6430, our first stop is 0.6550. And if things really get rolling, 0.6700 isn’t out of the question. Edge-Forex sees potential for some solid gains here if we can clear this level with strength.
How We’re Playing It:
Bullish Entry: Jump in on the confirmed breakout above 0.6430. We want to see a solid close above this level – not just a quick fakeout.
Protective Stop: Set it below 0.6230. If it dips back down, we don’t want to be caught holding the bag.
Target 1: 0.6550 – the initial resistance to aim for.
Target 2: 0.6700 if the bulls really take control. 🐂
Edge-Forex is bullish, but we’re watching that 0.6430 level like a hawk. If it clears, this could be a smooth ride up. But if it fakes out, be ready to adjust. Let’s see if CAD/CHF is ready to reward the bulls. 🚀
Top of the Range Pressure 💥
Right now, price is sitting right up against that 0.6430 resistance, and with the way momentum is building, it’s looking ready to pop. If it breaks above, this could be our ticket to a bullish ride up.
RSI is Supporting the Move 📊
RSI is up around 65 – not quite overbought, so there’s room to push higher if this breakout takes off. This is a classic bullish sign, especially with price testing resistance at the top of the range.
Breakout Targets 🎯
If we see that breakout hold above 0.6430, our first stop is 0.6550. And if things really get rolling, 0.6700 isn’t out of the question. Edge-Forex sees potential for some solid gains here if we can clear this level with strength.
How We’re Playing It:
Bullish Entry: Jump in on the confirmed breakout above 0.6430. We want to see a solid close above this level – not just a quick fakeout.
Protective Stop: Set it below 0.6230. If it dips back down, we don’t want to be caught holding the bag.
Target 1: 0.6550 – the initial resistance to aim for.
Target 2: 0.6700 if the bulls really take control. 🐂
Edge-Forex is bullish, but we’re watching that 0.6430 level like a hawk. If it clears, this could be a smooth ride up. But if it fakes out, be ready to adjust. Let’s see if CAD/CHF is ready to reward the bulls. 🚀
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