CADCHF bullish breakout! | 18th Jan 2022

18 thg 1, 2022Prices have recently broken out of the daily descending trendline. We see the potential for bullish movement from our buy entry at 0.73029 in line with 23.6% Fibonacci retracement towards our Take profit at 78.6% Fibonacci retracement and 61.8% FIbonacci extension. Our bullish bias is further supported by prices trading above our Ichimoku clouds and also MA 200 & 50 forming a golden cross.

Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be