Get started
Premium_Tendies

CADCHF Short

Short
Canadian Dollar/Swiss Franc (FX:CADCHF)  
Premium_Tendies  
FX:CADCHF   Canadian Dollar/Swiss Franc
Trend Analysis Chart Patterns Beyond Technical Analysis CADCHF CAD chf franc short SELL swissfranc swiss canada
5
4
trendanalysis chartpattern beyondta cadchf cad chf franc short sell swissfranc swiss canada
As we can see from the diagram, a nice Head and Shoulders pattern unfolding on the Daily timeframe on this pair. BoC's hawkishness provided us the spike up today to form the right should and the price was stopped at old broken support that has now become resistance. Moreover, the price is capped on the topside by the 200EMA. We also have the bearish crossover on the MACD.

I expect the price to move down over the coming days.
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.