gelena3000

CADCHF retracement before continuation of the daily downtrend

Long
OANDA:CADCHF   CAD/CHF
I am anticipating a 38.20% 2H retracement before price rallies to the daily 50.00% retracement level for 50 pips (also the third daily trend line touch). If price breaks the daily trend line we can expect a rally to the next resistance zone (0.75550); However, if price rejects the trend line , I expect the continuation of the current downtrend for the next lower low point or an hourly double bottom .

Regards