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CADCHF is trying to reverse the trend

  • Aug 12 2021
  • by
  • Analyst AZA
CADCHF is trying to reverse the trend

CADCHF is trying to reverse the trend

The Canadian dollar has slightly strengthened its position against some currencies. On the 4 hour chart, you can see that the price was able to cross the 200 moving average and formed a fractal. It is this fractal that we will use to enter the market and open a long position when the level of 0.7380 is broken. Taking into account that this is a trend reversal, there will probably not be a strong spurt in the price. Therefore, you will place a Take Profit order at the level of the nearest resistance at 0.7420.

Symbol: CADCHF
Order Type: Pending Order - Buy Stop
Entry Price at 0.7380
Take Profit at 0.7420
Pips Earning: 40

Forex trade strategy and trading signals for major currency pairs:
EURUSD sell at the price of 1.1730
USDJPY buy at the price of 110.50
GBPUSD sell at the price of 1.3850
USDCHF buy at the price of 0.9225

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The profit can be $432.88 if the trading volume of 100000 CAD (1 Lot).

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