Good afternoon everyone,
Today we're looking at a possible bear breakout in the CAD/CHF.
The CAD/CHF has been trading lower whilst CAD has been slipping with Oil prices and safe-haven money flows from risk on assets into the risk off assets. At the moment, our beliefs are that this pair could potentially have a ways to go before it continues its bullish wave impulsive wave.
Price at the time of this writing can be seen pulling back from a liquidity pool based at approximately 0.73900 in conjunction with the fact its coming back to retest another zone its just recently broken through.
Should price continue to trade lower through the base of the 0.73800 liquidity zone, come back to retest and then push lower, we expect a surge in momentum down to approximately 0.73300.
If however price decides to break above the upper channel limit at approximately 0.74400, we then expect a bull continuation to previous highs at 0.74800.
Today we're looking at a possible bear breakout in the CAD/CHF.
The CAD/CHF has been trading lower whilst CAD has been slipping with Oil prices and safe-haven money flows from risk on assets into the risk off assets. At the moment, our beliefs are that this pair could potentially have a ways to go before it continues its bullish wave impulsive wave.
Price at the time of this writing can be seen pulling back from a liquidity pool based at approximately 0.73900 in conjunction with the fact its coming back to retest another zone its just recently broken through.
Should price continue to trade lower through the base of the 0.73800 liquidity zone, come back to retest and then push lower, we expect a surge in momentum down to approximately 0.73300.
If however price decides to break above the upper channel limit at approximately 0.74400, we then expect a bull continuation to previous highs at 0.74800.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.