The zone of 0.753-0.7550 is quite a significant resistance. and there is a shark pattern coming up next to it. I will be looking to take a position early next week once this zone is challenged.
The CADCHF like the GBPCHF is also showing a bearish pattern. A bearish Shark pattern has already completed, price break down the support TL and now is at a critical point. I am expecting this to start dropping soon if the price is resisted by the support turned resistance TL.
FX_IDC:CADCHF
ALL published at completion point...
Previous Gartley (before the 3Drives):
Previous 3Drives pattern:
Previous Butterfly:
This completes the full sequence of harmonics until now! ;)
Safe Trades;
The pound finally fell after such a long wait.
I see a potential HNS patterns playing out on this pair, potentially forming a the right shoulder around 1.32.
If this plays out nicely, this pair could revisit the low of August around 1.2865 which happens to be a buy level for this bearish shark pattern.
Meanwhile I will be just waiting for the right price to go long.
After the interest rates news on Friday, I believe the market has decided on where it wants to go.
I am now bullish on the USD until this Shark pattern completes.
Zone to watch, 106.30 to 106.60.
