Go Short as CADCHF Consolidates Below Trend LineIn the daily chart, we can see that the CADCHF has been consolidating after breaking the support trend line earlier this month. It is now testing the support-turn-resistance trend line again after a 160-pip rally from 0.7266. This provides a good opportunity to sell on a pullback.
Cadchfshort
CADCHF shortWe have seen price trading sideways on this pair since january 2015. There has been no clear indications of the long term direction of this pair.After the strong move down at the end off beginning of august price has started to form a bear flag on the 4 hour time frame. This consolidation zone sugest there is more downside to come. Targets at 0.69
[FOREX] [CADCHF] Clearly short signal?It is clear that the seller is in control of market, but when you can come back to the sell after bull pull back with the good risk/reward?
At the strong resistance, CADCHF show a promising sell setup with the signal bar of Friday. Wait for it to pullback to have better risk/rewark.
CADCHF(WEEKLY FORECAST): SHORT RUN IS SUSPECTED!0.79500/0.78700 zone - Major resistance respected since the impulsive move in January 2015 and since May 2018, the price has been going below this resistance.
This indicates that demand is dropping.
There will be publications in lower time frames soon as the reaction of price is been monitored.
CADCHF SELL Consolidation to .7400-.7380Previously, I made a post on consolidation options for this pair saying that if the BULLS broke the CTL that the CAD would be moving up to consolidation high's around .7620 it has made it up to that point and has broke a CTL bearish on the daily so I am looking for a 2hr high price to sell down to the .7400 area to .7380 consolidation lows.
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Cad/Chf Hour 4! Broken Support Turns ResistanceAgain, Many Pairs are moving The Same Way! We see that Cad/Chf Broke Support, Retested, And should now move down to the next area!
I wanted to also use a Fib Retracement on this pair just to show you how price literally bounced off of every retracement level! (See The Yellow Arrows)
So I Fully Expect Price to fall at least until the next area!
CADCHF everything will be decidedNow everything will be decided, up or down ? This is the question.
CADCHF closed under our daily key support level.
If it can take a foothold over our daily level, it should move up again.
If we see a rejection the next hours we could see a continuation of the downtrend.