CADCHF has reached a high of the 18th, Aug and then retraced, it's countered not only the high but also the a zone of previous support which now is turned to resistance.
Given the fact oil is falling today and CADCHF has rallied in the past few days causing lower time frames RSI approaching/is over bough, I believe a downward movement is a must.
SL: around 0.7277 below 0.73 as 0.73 invalidate the analysis.
TP: fib based previous low, - I'm doing conservatively here, but you may aim lower such as 0.723, 0.72 ir even 0.718
Be aware today's going to be a volatile day for many pairs. So manage your risk.
GL
Given the fact oil is falling today and CADCHF has rallied in the past few days causing lower time frames RSI approaching/is over bough, I believe a downward movement is a must.
SL: around 0.7277 below 0.73 as 0.73 invalidate the analysis.
TP: fib based previous low, - I'm doing conservatively here, but you may aim lower such as 0.723, 0.72 ir even 0.718
Be aware today's going to be a volatile day for many pairs. So manage your risk.
GL