CAD/CHF Long-Term Trend: Bearish
Key Resistance Levels: 0.74237, 0.74407, 0.74504.
Key Support Levels: 0.73790, 0.73604, 0.73388.
The price on the higher time frame failed to break the strong resistance zone around the 0.74167 CHF mark where the market reached the higher end of the bullish channel which led to the sellers to push the price downward and this is represented by a big bodied bearish bar.
CAD/CHF Medium-Term Trend: Bearish
On the lower time frame, the price posted a double top pattern which led to a reversal after reaching the top of the ascending channel and now there is a potential that the market move to the downside but before that a higher correction could be seen toward the entry price.
Sell Limit Order @ 0.74111
TP 1 @ 0.73797
TP 2 @ 0.73604
Stop Loss @ 0.74268
Trade Safely 🙂