Short View on CAD/CHF by ThinkingAntsOk
4H CHART EXPLANATION:
Price was moving sideways between the support and resistance zones, and after that broke up starting a strong bullish movement. We consider this movement is about to end, since price is near to face the Descending Trendline. MACD Bearish Divergence is also showing some weakness. If the rejection is confirmed it would be a nice place to take short positions towards the first support zone. If this zone is broken, then it has potential to reach the second support zone.
MULTI TIMEFRAME VISION:
- Daily:
- Weekly:
Price was moving sideways between the support and resistance zones, and after that broke up starting a strong bullish movement. We consider this movement is about to end, since price is near to face the Descending Trendline. MACD Bearish Divergence is also showing some weakness. If the rejection is confirmed it would be a nice place to take short positions towards the first support zone. If this zone is broken, then it has potential to reach the second support zone.
MULTI TIMEFRAME VISION:
- Daily:
- Weekly:
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