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27.10.202108:07 Forex Analysis & Reviews: CADCHF bullish momentum | 27th Oct 2021

Exchange Rates 27.10.2021 analysis

Price is reacting in an ascending channel on the daily, signifying an overall bullish trend. However, we can expect price to push down for a little from 1st Resistance in line with graphical overlap resistance towards the 1st Support 161.8% Fibonacci retracement, 38.2% Fibonacci retracement and 78.6% Fibonacci projection. Our bearish bias is further supported by price holding below the Ichimoku cloud and RSI indicator abiding to a descending trendline.

Trading Recommendation

Entry: 0.74228

Reason for Entry:

Graphical Overlap

Take Profit: 0.73801

Reason for Take Profit:

61.8% Fibonacci retracement, 38.2% Fibonacci retracement and 78.6% Fibonacci projection

Stop Loss: 0.74451

Reason for Stop Loss:

61.8% Fibonacci projection

*Phân tích thị trường được đăng tải ở đây có nghĩa là để gia tăng nhận thức của bạn, nhưng không đưa ra các chỉ dẫn để thực hiện một giao dịch.

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