CADCHF Daily Chart Projection On ( July 4th 2022 )

DETAILED ANALYSIS

The CADCHF had been showing off some bullish movements since the last low was made around March 2020 which was at @0.66100. Since then, market has been making series of Highs and Lows (Visible on Weekly Chart)

Market created a double bottom which formed the previous Higher Low @0.71000 (support) which then moved rapidly towards the upside creating a new high @0.78150 A former resistance structure was broker and now market dropped to make the next Higher Low structure as a valid uptrend formation. Thus by using our fibs from that low to the high as shown on our Chart.

The current HL level is pointing to 61.8% fibs (Golden Ratio)

OUR DIRECTION

Since we have identified that price is in an uptrend and it just made a new Higher Low (HL) meaning we’re expecting market making another push to the upside to create Higher High (HH). Our anticipated directional bias is BUY.

LEVELS TO WATCH OUT FOR

Previous High: @0.78150

If Price Breaks Higher: @0.79600 (Next Target Area)



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