Okay so, CADCHF pair has been on a bearish run for quite some time!!!
If we see the situation then we can expect this pair to show some corrective movement upwards.
In which our first target will be 0.72000 which can act as resistance which is a strong one.
So, we may be looking to long this pair with a stop loss of 0.69000 and take profit we can keep open as...
This pair closed at a good level on the daily chart with an indication that you can take a long position in this pair if this happens...
At this position, we have to see the market reaction. If we see a daily close as a bullish candle then we will be taking a long here but we have to see if this support holds.
If it holds, then we can take long to our initial...
CADCHF just jumped from the buy region we were waiting for this conformation. We can enter in a long position now with 0.70000 as take profit.
Also, Bollinger bands support held too!!!! So, we strongly recommend going long this time in this pair.
STAY TUNED!!!! :)
FOLLOW ME ON - stocktwits - nikhil_forex
Facebook - @forexng70