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CAD/CHF riding a bullish weekly channel up

Cad/Chf is moving up within a bullish channel
We see this channel on the weekly chart:
I drew the lower trendline and cloned that line and moved it up -- it fits perfectly and creates this bullish channel
Cad/Chf weekly chart
This is a true channel, and it will take some Cad weakness to break the lower border;
for now the price is near the lower border,
but the RSI is still bullish
and Stoachistic indicator shows bullish divergence
So there is reason to believe the lower border of the weekly cha…
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AdamFx42 avatar
AdamFx42 10 Dic

Retest has broken the trendline support, price needs to return back in for any
bullish continuation to play out

AdamFx42 avatar
AdamFx42 29 Dic

Return within support area has helped the price recover and move up again,
now the price is running into resistance in the form of the 0.85 level,
my target just above seems in reach now, though

AdamFx42 avatar
AdamFx42 30 Dic

Break above 0.85 leads the pair close to my target
0.85 seems to be a likely support now, after the break, and it should end close to target

AdamFx42 avatar

Just 8 pips above target now

AdamFx42 avatar

missed by around 11 pips - good start to the new year prediction wise :-)

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