CADCHF is approaching the well respected trendline yet again along with an area of former support/resistance .
This seems like an easy trade, however, the last 3 touches were quite easy as well. Anything too good to be true probably is.
While I will be looking for the short, I am prepared for price to go long. There will be important news coming out of Canada in the next few hours which can either provide a spike which will take most early shorts out or be the catalyst for a breakout. I have quite a few other ideas of what can happen but I will let price do its thing.
Check out my last few analyses of this pair in the comments!
This seems like an easy trade, however, the last 3 touches were quite easy as well. Anything too good to be true probably is.
While I will be looking for the short, I am prepared for price to go long. There will be important news coming out of Canada in the next few hours which can either provide a spike which will take most early shorts out or be the catalyst for a breakout. I have quite a few other ideas of what can happen but I will let price do its thing.
Check out my last few analyses of this pair in the comments!
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Related publications
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.