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

CADCHF facing bullish pressure, potential for further upside!

 CADCHF facing bullish pressure, potential for further upside!

Prices are facing bullish pressure from ascending trendline support, horizontal swing low support, 50% Fibonacci extension and 61.8% Fibonacci retracement. Prices might push up towards 78.6% Fibonacci extension and -27.2% Fibonacci retracement fibonacci confluence zone. Prices might push down further and take support from horizontal swing low support, in line with 100% Fibonacci extension and 127.2% Fibonacci retracement. Ichimoku cloud is also below prices, showing a bullish pressure for prices.

Trading Recommendation

Entry: 0.74659

Reason for Entry:

Ascending trendline support, 50% Fibonacci extension, 61.8% Fibonacci retracement

Take Profit: 0.74881

Reason for Take Profit:

-27.2% Fibonacci retracement, 78.6% Fibonacci extension

Stop Loss: 0.74522

Reason for Stop Loss:

Horizontal swing low support, 100% Fibonacci extension, 127.2% Fibonacci retracement

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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