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Cadchftrading

CADCHF: Six month Support Zone holding.CADCHF has held trading over the six month S1 Zone for the eight straight session. Obviously this turned the 4H timeframe (and below) neutral (RSI = 52.551, MACD = 0.000, ADX = 32.796), which makes for a solid bottom formation. On a wider look it appears that the original Channel Down transitioned into a Rectangle of a R1 and S1 Zone. The 1D MACD Bullish Cross will give the buy signal if formed and our target will by the LH trendline of the Channel Down (TP = 0.67850). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Long
by InvestingScope
CADCHF: Top of the 1 year Channel Down. Sell opportunity.CADCHF is approaching the top of the Channel Down pattern since May 2022, which is a little lower than the 1D MA200. The 1D technicals have turned green (RSI = 58.741, MACD = 0.003, ADX = 49.805), which indicates that we are entering the long term sell zone. The ideal sell confirmation will be after the 1D MACD makes a Bearish Cross. We will after the Cross is completed and target the LL trendline (TP = 0.63000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
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