CAD/CHF: Continuing Bearish Trend and Short Setup Opportunities

24 kwi 2023

The CAD/CHF currency pair has been caught in a bearish trend since the 4th of April, and this downward trend has persisted, leading to the historical minimum for this pair. Currently, the price movement is not indicating any signs of a reversal or retracement, leaving traders uncertain about where the bearish rally will eventually come to a halt. Across all timeframes, the price continues to exhibit a bearish trend, presenting traders with limited opportunities. Consequently, the best approach for traders is to focus on short setups and continue following the prevailing trend.

Given these circumstances, our suggested strategy would be to maintain a bearish outlook and seize any opportunities that arise for short positions. This would allow traders to capitalize on the current market dynamics and potentially earn some gains.