Price made a break to the downside through the phase line of the channel, came back, tested it and got rejected. Very tight SL but still some room for another possible test.
Almost a month long rising wedge pattern is coming to an end. Bearish divergence signifies the imminent trend change. Possible test of the 1.08 and 1.085 levels. As we know that rising wedge is a continuation pattern , we might be seeing a continuation of a massive downtrend that started mid 2016. for more conservative trading, wait for a break through the...
Test and fail of the downward trend line, as well as 2nd test of 50 Fib level, indicated a valid short entry. Price breaking and closing above/below any of the trend lines would mean that this setup no longer valid. Good sell opportunity until 1.4800
Clear rejection of 50 EMA. Set you SL just above 50 EMA (in case of a stop loss hunt) and TP around 200 EMA.
After a downtrend from Dec 12th and hitting a support at 0.7170 the period of consolidation has started. Watch for a test of 38.20% Fib level.
Clear rejection at 50 indicated a strong donw trend that hit 200 EMA. Wait for a pull up to 23.60% Fib for a good short position.
There is a 1 year Rectangle Pattern forming on CADCHF. Pattern is still to be completed. 0.7240 has proven to be a very strong support. Possible test of the low which could result in a great long term buy entry.
2 false breakouts above the trend line followed by a quick move down confirmed the trend. Look for pull up to 50 ema.