CADCHF Strong buy signal

21 de ago.

The CADCHF pair offered us an excellent sell signal last time we looked into it (July 02, see chart below) as trading within a Channel Down pattern, it was rejected on its 1D MA50 (blue trend-line) and hit our 0.63100 Target:

The Channel Down priced its new Lower Low, even broke momentarily below its bottom aggressively, and now seems to have recovered. The recent pull-back offers a good opportunity to enter this confirmed uptrend, which is technically the new Bullish Leg of the Channel Down.

Our Target is 0.65000, firmly below the 0.786 Fibonacci retracement level of the previous Lower High of the Channel, which is where both Lower Highs so far have been priced.

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