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21.02.2018 03:56 AM
CAD/CHF bullish channel exit, time to buy

The price has made a bullish exit of our long-term descending channel signaling that we're likely to see a change in momentum from bearish to bullish. We look to buy above 0.7400 support (Fibonacci retracement, horizontal overlap support) for a push up to at least 0.7493 resistance (Fibonacci retracement, horizontal overlap resistance).

RSI (34) has also made a bullish exit of its long-term descending resistance-turned-support line signaling a corresponding change in momentum too.

Buy above 0.7400. Stop loss at 0.7360. Take profit at 0.7493.

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