FX.co ★ CADCHF facing bullish pressure, potential for further upside!

Prices are facing bullish pressure from ascending trendline support and horizontal swing low support which is in line with 78.6% fibonacci extension and 61.8% fibonacci retracement. Prices might push up towards 1st resistance which is in line with 78.6% fibonacci extension and horizontal swing high resistance. If price pushes down lower, it might take support on 2nd support which is in line with 127.2% fibonacci extension and 78.6% fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.

Trading Recommendation

Entry: 0.74495

Reason for Entry:

Horizontal swing low support, ascending trendline support, 78.6% fibonacci extension, 61.8% fibonacci retracement

Take Profit: 0.74923

Reason for Take Profit:

Horizontal swing high resistance, 78.6% fibonacci extension

Stop Loss: 0.74312

Reason for Stop Loss:

Horizontal swing low support, 78.6% fibonacci retracement, 127.2% fibonacci extension