There is a 1 year Rectangle Pattern forming on CADCHF. Pattern is still to be completed. 0.7240 has proven to be a very strong support. Possible test of the low which could result in a great long term buy entry.
Longing based on : Minor RSI divergence. Broken Channel on daily time frame.
CADCHF is channeling for almost a year now, and getting closer to that major yearly TL that's holding since 2012. For now we have two indecision candles, much wicks on the top. If we go by the book, then all rules says short here as a trend continuation. Like if you agree, follow and support please!
IS CLEAR GUYS THAT CADCHF FORMED A REVERSE HEAD AND SHOULDERS AND WENT UP BUT IT DIDN'T BROKE THE TRENDLINE NOW I AM WAITING FOR A SELL TP @ 0.73000 ---> 230 PIPS HAVE FUN GUYS !
Possible trend continuation. Oil price is crucial for CAD value and may cause breakout from trend channel. CHF should also gain momentum.
Formation of the wedge ending growth. Open position after breaking the lower limit.