Could CAD finally run away?
Updated
We saw CADCHF sideways range for quite some time between 0.7360 and 0.7500 on the H4 timeframe, then buyers finally stepped in, and it rallied to 0.7620
As expected, the market pulled back into the former range resistance, now support, at 0.7500, and stalled there before dipping and finding liquidity as buyers stepped in once again.
We are starting to see buyers finding a base at the 0.7500 support and IF this continues to hold then CADCHF could make a run towards 0.7620 highs.
Prudent stops would be under the last swing low around 0.7470 based on market structure.
As expected, the market pulled back into the former range resistance, now support, at 0.7500, and stalled there before dipping and finding liquidity as buyers stepped in once again.
We are starting to see buyers finding a base at the 0.7500 support and IF this continues to hold then CADCHF could make a run towards 0.7620 highs.
Prudent stops would be under the last swing low around 0.7470 based on market structure.
Trade closed: target reached
We saw CADCHF extend its run and reach the target area, closing out the trade
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