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Cadchfidea

CADCHF - Long or Short OpportunityLooking into the weekly chart we can see that there is a strong overall down trend for this pair. As we come into our lower time frames the Daily/ 4hr we have a smaller bullish trend taking place inside of the overall trend. Do too fundamentals which took places yesterday we had a strong down movement in this pair which has bought us back too the bullish trend line acting as a support for this pairs current movements. This also aligns with a dynamic area of supply and demand. So we could be looking at a bounce off of the trend line and a bullish movement up toward the overall bearish trend line or a bearish movement in which the lower time frame trend line is broken and then looking for a retest to confirm the bearish movement in which we can begin to short looking toward the next area of demand.
by OnlyAnalysis