• Vasily Trader

CADCHF: Pullback from Key Level

CADCHF is testing a major weekly structure resistance .

Taking into consideration that the market is quite overbought, chances are high to see a pullback from that.

Your confirmation will be a bearish breakout of a rising parallel channel on 4H.

While the price is within, the market remains sharply bullish .

The breakout will signify a local shift in market sentiment and will push the pair to local structure level.

First goal will be - 0.732

In case of a bullish breakout of the underlined resistance, setup will be invalid.