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

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


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