Analysis

Double Top at Resistance

Today, we will be looking at the CADCHF, we can note from the weekly chart we have come up to resistance of a descending trendline at around 0.7570, and have come off this level with today's candle currently engulfing yesterdays rise. 

Focusing in on the 4 hour chart we can see a possible double top at the trendline resistance and a break of 0.7544 may see a move down to the 0.75 area.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.