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CAD/CHF Potential Upward Movement

CAD/CHF Long-Term Trend: Bullish

Key Resistance Levels: 0.74761, 0.75220, 0.76000.

Key Support Levels: 0.74272, 0.73739, 0.73000.

Daily Chart:

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

1-Hour Chart:

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.

Signal Idea:

Buy Limit Order @ 0.74294

TP 1 @ 0.74748

TP 2 @ 0.75220

Stop Loss @ 0.74152

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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