CADCHF POTENTIAL DOVISH MOMENTUM
CADCHF made a massive dovish move since last week from 0.73000 to 0.72000 breaking below key support level at 0.72500. Yesterday we saw a correction to the 50.0% of the fib pulled on the impulse also testing the broken level now turn resistance. In doing so formed a possible head and shoulders on the 4r timeframe. on the completion of the right shoulder we can move down to the smaller timeframe to look for entry with TP at 0.71400.
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