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CAD/CHF Potential Upward Movement

CAD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.72757, 0.73000, 0.73438.

Key Support Levels: 0.72477, 0.72211, 0.71969.

1-Hr Frame:

The price on the higher time frame succeeded to break the descending trendline to the upside after posting a higher low. In addition the market managed to break the previous lower higher showing that the buyers are in control of the market.

CAD/CHF Medium-Term Trend: Bullish

5-Mins Time Frame:

On the lower time frame, we can see that the market broke out of the bullish flag to the upside after a higher low. We expect a new bullish impulse wave in the same direction of the new trend  toward the mentioned target profits.

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Buy Market Order @ 0.72517

TP 1 @ 0.72723

TP 2 @ 0.73000

Stop Loss @ 0.72414

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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