CADCHF: Important Decision Ahead 🇨🇦🇨🇭
Updated
CADCHF is testing a key daily level.
Depending on the reaction of the market to that I see two potential scenarios:
- To short with a confirmation, I will wait for a bearish breakout of a rising parallel channel.
Once its support is broken, bearish continuation will be expected to 0.74 level. - To buy with a confirmation, wait for a bullish breakout of a horizontal key level (daily candle close above).
Once the underlined resistance is broken, bullish continuation will be expected to 0.76 level.
Taking into consideration that the market is trading in a long term bullish trend,
I remain bullish biased.
What do you think will happen?
Note
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