The market has been in an uptrend, forming higher highs and higher lows after a previous strong downtrend.
Currently, CADCHF is testing a key resistance level (0.6185 - 0.6190), with signs of consolidation.
A slight retracement is expected before a potential breakout to the upside.
Key Levels:
Resistance Levels:
0.6225 – First target after breakout.
0.6265 – Major resistance zone and final target.
Support Levels:
0.6130 - 0.6140 – Potential retest zone before further upside.
0.6050 – Strong demand zone (invalidates bullish bias if broken).
Trade Plan:
📉 Pullback Entry: Waiting for a small retracement to the 0.6140 zone before entering long.
📈 Bullish Breakout Confirmation: A break and close above 0.6190 could confirm further upside towards 0.6225 - 0.6265.
Final Outlook:
Bias: Bullish above 0.6140, bearish below.
Risk Management: Stop loss below 0.6130.
Potential Reward: A successful breakout can provide +80 pips upside.
Currently, CADCHF is testing a key resistance level (0.6185 - 0.6190), with signs of consolidation.
A slight retracement is expected before a potential breakout to the upside.
Key Levels:
Resistance Levels:
0.6225 – First target after breakout.
0.6265 – Major resistance zone and final target.
Support Levels:
0.6130 - 0.6140 – Potential retest zone before further upside.
0.6050 – Strong demand zone (invalidates bullish bias if broken).
Trade Plan:
📉 Pullback Entry: Waiting for a small retracement to the 0.6140 zone before entering long.
📈 Bullish Breakout Confirmation: A break and close above 0.6190 could confirm further upside towards 0.6225 - 0.6265.
Final Outlook:
Bias: Bullish above 0.6140, bearish below.
Risk Management: Stop loss below 0.6130.
Potential Reward: A successful breakout can provide +80 pips upside.
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🥇95% Accurate Signals
♻️1-2 Daily Signals
✔️Free Daily Profitable Signals
⤵️‼️Join us on Telegram‼️⤵️
📱Telegram:➡️ t.me/ultreos_forex
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.