CADCHF - RANDING

The CADCHF currency pair has been trending downward all through the year from 0.64000 to 0.57900. But after reaching back into the recent supply area at 0.60500, the pair continued downward to meet some resistance at the 0.57900 where it began a sideways range movement signaling a slowdown of the downward momentum. From the said level, there have been two break of structures first at 0.58658 and second at 0.58935 showing a possible change of character and the beginning of a new uptrend being confirmed by the indication of high volume of buys noticed at 0.58300.

A possible BUY opportunity opens up if there's a sweep of the engineered liquidity at 0.58250 and the market reaches back into the demand zone between 0.58070 and 0.57970.

Traders could be interested in BUYING from the 0.58070 level with STOP LOSS at 0.57940 and TAKE PROFIT at 0.59000. Having a Risk/Reward ratio of 7.15