FuturesForexClasses

CADCHF /H1 / Daily Forex Technical Analysis / 5.10.2019

Short
OANDA:CADCHF   CAD/CHF
Hello Traders, welcome to the Daily Forex technical analysis. Today is May 10th, 2019 and we will be taking a look at the Canadian Dollar against the Swiss Franc. On the higher time frames price action recently has been bearish as we broke the support area of .7552. Looking at the 1 hour time frame we will be looking for some kind of relief bounce back near the retest of the .7552 area. This is where we would look to enter Short. With an entry Short near the .75552 area, and a Stop Loss near the highs of .75661, with a target profit level of .75301 we could possibly yield a 2.3 to 1 R/R.

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