CAD/CHF Long-Term Trend: Bullish
Key Resistance Levels: 0.74761, 0.75220, 0.76000.
Key Support Levels: 0.74272, 0.73739, 0.73000.
The price on the higher time frame managed to break the Wyckoff accumulation phase to the upside where the buyers are in clear control of the market. The market succeeded to break the 0.74272 CHF mark and retrace to it. Further upside movement is expected in the coming hours.
CAD/CHF Medium-Term Trend: Bullish
On the lower time frame, the pair broke out of the bullish wedge formation to the upside after finding buyers around the 61.80% Fibonacci retracement level. A lower correction could be seen to the 0.74272 CHF mark before a new bullish impulsive wave toward the target profit.
Buy Limit Order @ 0.74294
TP 1 @ 0.74748
TP 2 @ 0.75220
Stop Loss @ 0.74152
Trade Safely 🙂