CAD/CHF Approaching Resistance, Lookout For A Reversal
April 26, 2018 6:22 am
CAD/CHF is approaching its resistance area where we look to sell below 0.7662 (100% Fibonacci extension, 100% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance). We expect the price to fall to its support at 0.7609 (61.8% Fibonacci extension, multiple swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction is expected.
Sell below 0.7662. Stop loss at 0.7681. Take profit at 0.7609.
The material has been provided by InstaForex Company – www.instaforex.com
CAD/CHF is approaching its resistance area where we look to sell below 0.7662 (100% Fibonacci extension, 100% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance). We expect the price to fall to its support at 0.7609 (61.8% Fibonacci extension, multiple swing low support).
Stochastic (55, 5, 3) is approaching its resistance at 96% where a corresponding reaction is expected.
Sell below 0.7662. Stop loss at 0.7681. Take profit at 0.7609.
The material has been provided by InstaForex Company – www.instaforex.com
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