CADCHF H4 LONG PRICE ACTION FORECAST

Price action continues to be trading with a rising channel spotted in D1. Then, in H4, an expected pullback to the trendline in confluence with Fibonacci level 61.8 for a long entry will be placed. The diminished bullish momentum in MACD could support this pullback.

A buy-limit entry for a bounce strategy from the trendline+Fib level, give enough room for the following setup:

S/L: 47 pips - R:R | 1:4 - T/P aiming to the next resistance level.