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CADCHF: Important Decision Ahead 🇨🇦🇨🇭

Por VasilyTrader
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snapshot

CADCHF is testing a key daily level.

Depending on the reaction of the market to that I see two potential scenarios:
  • To short with a confirmation, I will wait for a bearish breakout of a rising parallel channel.
    Once its support is broken, bearish continuation will be expected to 0.74 level.
  • To buy with a confirmation, wait for a bullish breakout of a horizontal key level (daily candle close above).
    Once the underlined resistance is broken, bullish continuation will be expected to 0.76 level.


Taking into consideration that the market is trading in a long term bullish trend,
I remain bullish biased.

What do you think will happen?

Nota
Check my new analysis on NZDCAD:
NZDCAD: Potential Shorting Opportunity 🇳🇿🇨🇦
CADCADCHFChart PatternschfForexTrend AnalysisWave Analysis
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