Based on higher time frame (TF) and Cad-related oil supply news, CAD is likely to go bullish. As based on D1 TF, CADCHF is still ranging. It is possible to break downwards or upwards after BOC monetary policy report later today at 10pm SGT.
There is many different possible way to engage the trade, you can wait for a retest at the support or higher high and low and long.. OR
You can enter long when it breaks above the resistance or short when it breaks below the support level… Or
You can short when break below the trend-line (in blue) or look out for reversal candle at the trendline.
Based on my analysis, the reward to risk is 7:1
Entry: 0.7778,
SL: 0.7713
TP: 0.8243
There is many different possible way to engage the trade, you can wait for a retest at the support or higher high and low and long.. OR
You can enter long when it breaks above the resistance or short when it breaks below the support level… Or
You can short when break below the trend-line (in blue) or look out for reversal candle at the trendline.
Based on my analysis, the reward to risk is 7:1
Entry: 0.7778,
SL: 0.7713
TP: 0.8243