CADCHF recently showed some bullish momentum and broke through the 4H EMA.
Price has since returned to the support line of its ascending channel.
If we see price reject this support line, fib level 78.9% and break past the 4H EMA, price will likely continue its bullish momentum and hit the 0.7420 area (previus support)
Entry check list:
- rejection at support line (around 0.7300)
- rejection at 78.6% fib level
- break past the 4H EMA
- bullish confirmation among MACD and RVI
Price has since returned to the support line of its ascending channel.
If we see price reject this support line, fib level 78.9% and break past the 4H EMA, price will likely continue its bullish momentum and hit the 0.7420 area (previus support)
Entry check list:
- rejection at support line (around 0.7300)
- rejection at 78.6% fib level
- break past the 4H EMA
- bullish confirmation among MACD and RVI