It's very unlikely a large pullback will occur, the price are near its liquidity target, if it goes back than most likely would be a failure swing. I'm rooting this zone to get broken.
The price now has just reach a major resistance before making a new lower low. I think it will continue the downtrend but before that, there will be a big retrace so I'm longing on that retrace before continuing downtrend.
We see the price is currently consolidating, if the price goes up and touch the Quasimodo Level, I think it have the possibility to bounce back down as I picture above.
On the Daily timeframe, if you look carefully the price has reach a key level which has acted as support and resistance overtimes and also there is a supply zone on the left which I marked with arrow and red circle.
On 4H timeframe, we see a huge upward momentum, but reaching the key levels I see a potential reversal key level on the last timeframe 30M
Here on...
On 4H timeframe, the price has just broken the resistance and potentially creating a new higher high,
In this analysis I'm focusing on the area where has the possibility to bounce back up and creating a new higher high
Recently CADCHF were breaking a bullish trend and potentially creating a Quasimodo pattern, if this setup is valid the price will continue its downtrend after reaching Quasimodo Level
