Uncharted CADCHF Depths: Bearish Trend Meets Historic Low – Dive
Hey Traders!
The CADCHF trade is currently in an unprecedented low zone, making it susceptible to sudden bullish surges. While the opportunity seems too promising to pass up, we must tread with caution. The overarching market trend remains bearish, we based our analysis on the long upper shadow and the 4-hour bearish flag pattern. A break in this formation might intensify bearish momentum. However, given that the pair is at its historical low, there's potential for a bullish counter-reaction, particularly with the upcoming CPI news tomorrow. To account for the inherent unpredictability, it's advisable to opt for a reduced lot size.
The CADCHF trade is currently in an unprecedented low zone, making it susceptible to sudden bullish surges. While the opportunity seems too promising to pass up, we must tread with caution. The overarching market trend remains bearish, we based our analysis on the long upper shadow and the 4-hour bearish flag pattern. A break in this formation might intensify bearish momentum. However, given that the pair is at its historical low, there's potential for a bullish counter-reaction, particularly with the upcoming CPI news tomorrow. To account for the inherent unpredictability, it's advisable to opt for a reduced lot size.