Bullish rebound for CADCHF at least for the short-term

Commodity currencies such as the CAD, AUD, and NZD are all at all-time lows against the CHF. I have a feeling a risk-on appetite will overtake the market at least for the near future. I'm expecting a short-term bullish rise back to 0.66 area, as support appears to have been reached. From there, initial bias would be a continuation of the overall bearish trend, but we will have to wait and observe for confirmation.

Commentaire:

The fact that this pair still has not breached below the May low price, and that we have witnessed a long, drawn out accumulation for the past month, leads me to believe that current support will hold, so it's likely upwards from here.

Again, in regards to a bullish bias, our first TP is .66, followed by .67, and then finally .68.

Trade fermée: cible de profit atteinte:

Price is close enough to 0.66, I'm going to go ahead and close the trade, while I'm in profit.