One of the strongest trends of the recent days have allowed this market to recover more than 61.8% of the last swing down (seen on a daily chart). Now 0.83 is in sight. It can be reached and breached, as such strong markets tend to test the upper median line parallel. ----------- Disclaimer: There is a very high degree of risk involved in trading forex. I assume...
This is an added comment to an idea published by Razvan titled "CADCHF - BEAUTIFUL PRICE ACTION " A Well formed and long lasting downward channel plus an inverted Head and Shoulders. Confirmed trade target with Fibonacci Retracement and Extension.
Look at this beautiful price action. The price is pressuring on the trend line of a down channel and the base line of an Inverted Head and Shoulders. If it will manage to break and close above this area we could expect a rally to 0.8527, where it will find the price pattern's target. A false breakout here could only signal a continuation of the down trend.