27.10.202108:07 Forex Analysis & Reviews: CADCHF bullish momentum | 27th Oct 2021

Price is reacting in an ascending channel on the daily, signifying an overall bullish trend. However, we can expect price to push down for a little from 1st Resistance in line with graphical overlap resistance towards the 1st Support 161.8% Fibonacci retracement, 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is further supported by price holding below the Ichimoku cloud and RSI indicator abiding to a descending trendline.

Trading Recommendation

Entry: 0.74228

Reason for Entry:

Graphical Overlap

Take Profit: 0.73801

Reason for Take Profit:

61.8% Fibonacci retracement, 38.2% Fibonacci retracement and 78.6% Fibonacci projection

Stop Loss: 0.74451

Reason for Stop Loss:

61.8% Fibonacci projection

*Analisis pasar yang diposting disini dimaksudkan untuk meningkatkan pengetahuan Anda namun tidak untuk memberi instruksi trading.

Dean Leo,
Pakar analisis InstaForex
© 2007-2022

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