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Cadchflong

CADCHF FOR A BULLISH REVERSAL?Price is in a downtrend on the hourly timeframe, as lower highs and lower lows are being printed. However, recent price action tells us that we might see a short term reversal. Price is testing a key resistance level at 0.72350, after a possible higher low has been formed. Before taking long positions, price needs to break above the level with a clear impulse, and then on the pullback shows signs of a continuation. We do not want to get caught against the trend, so patience is needed to see this trade play out.
Long
by Men_of_The_Markets
CADCHF clear bearish price action Hi Traders, CADCHF is consolidating within a bearish continuation correction which with the Global events occurring I suspect CHF to gain strength. Price action clearly shows sharp impulses after the corrections complete and with the Russia and Ukraine tension happening, we may expect another impulse move downward. Always wait for confirmation before taking your trade. Follow your trading plan! Good luck! Comment below and share your view on this pair! Support more of these by clicking the like button if this has helped you!
Short
by ktlfx