CAD/CHF is ready for a Bullish Rally!

28 nov

Based on the given analysis of CAD/CHF on the daily timeframe, the chart indicates that accumulation has nearly concluded, setting the stage for a potential bullish rally. The price action reflects a bullish structure, as it hovers near significant Fibonacci levels within a consolidation zone. Additionally, while a bearish Change of Character (ChoCh) has been observed in the SXY, suggesting room for a further drop to its support area, the CXY aligns with bullish divergence on the daily timeframe. These technical factors collectively signal favorable conditions for an upward movement, making CAD/CHF an appealing candidate for a bullish trade setup.