CADCHF - LONG setup 🔥

14 Şub 2023

Hi everyone .Looking at the monthly time frame, it seems that the price is currently rejecting a strong support zone, while on the 12-hour time frame, there is a bullish engulfing formation that may cause a break of the MA 20/50. Similarly, on the 4-hour time frame, there is a strong bullish pressure as the bullish engulfing candlestick has broken and closed above all the moving averages. The price has two robust resistance zones, as marked in the picture, so if the first one is broken, the next target would be the second zone, potentially reaching TP3. However, tomorrow there are high-impact news events that could undoubtedly affect the CADCHF. 🙏🏼