• Dec 16, 2024
  • Trade ideas

CADCHF: Trend Reversal!

CADCHF, H4

CADCHFH4.png

CADCHF is in the correction after a rise, aiming to retest the 0.6250 support.

The RSI crosses the 50-line down while the 9-MA crosses the 14-MA, giving a signs of further decline for the asset.

  • Consider a short trade on CADCHF on a brake below the 0.6250 support with the target at 0.6220.
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul