The CADCHF takes advantage of the support line stability – Forecast today – 18-4-2024

CADCHF Price Analysis

Expected Scenario

• The CADCHF takes advantage of the stability of the bullish channel’s support lying at 0.6595.
• Correctional bearish attempts end, and bullish waves start forming.

Expected Outcome

The CADCHF takes advantage of the stability of the bullish channel’s support lying at 0.6595, to end the correctional bearish attempts and start forming bullish waves, achieving the first positive targets by touching 0.6618 level.

Stochastic crawls towards the overbought areas to allow us to expect gathering the additional positive momentum and ease the mission of resuming the bullish attack by rallying towards the MA55 direct at 0.6632, while surpassing it will push the price towards 0.6645 as a next main target.

Expected Trading Range

Between 0.6605 and 0.6632.