CADCHF is approaching the well respected trendline yet again along with an area of former support/resistance .
This seems like an easy trade, however, the last 3 touches were quite easy as well. Anything too good to be true probably is.
While I will be looking for the short, I am prepared for price to go long. There will be important news coming out of Canada in the next few hours which can either provide a spike which will take most early shorts out or be the catalyst for a breakout. I have quite a few other ideas of what can happen but I will let price do its thing.
Check out my last few analyses of this pair in the comments!
This seems like an easy trade, however, the last 3 touches were quite easy as well. Anything too good to be true probably is.
While I will be looking for the short, I am prepared for price to go long. There will be important news coming out of Canada in the next few hours which can either provide a spike which will take most early shorts out or be the catalyst for a breakout. I have quite a few other ideas of what can happen but I will let price do its thing.
Check out my last few analyses of this pair in the comments!
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