CAD CHF Is Playing Out Exactly How We Expected

2 เม.ย. 2020

This is part 2 in an ongoing analysis on CAD CHF. This support and resistance set up has played out very nicely so far. I decided to keep the line on my chart from the previous analysis so you understand the progression and the narrative.

CADCHF Has finally shown us a temporary low in this massive bearish trend. This is not an easy moment to trade, there can be unexpected volatility, and there is not much historical price action to base your TA on. I am going to keep it simple for now and just share this scenario based on a support and resistance.

A first small rejection of the resistance has already happened, we are now seeing a continuation of a temporary uptrend. Eventually I do expect the price to attempt the resistance again and break through the resistance. Then, after a S/R flip the price can bounce off a newly found support and make a short uptrend.

Overall I believe the price will need to cool down a bit from its massive downtrend and will recover temporarily. This is where you can try to monetize this pair.


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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!