I expect to keep up our downtrend, on friday we were on a retest of our support zone of 1.3243, if we manage to break it or open below our level i expect to keep retracing my setup down to main key level of support of 1.3159.
WE GOT HERE A NICE POTENTIAL BUY SETUP.
IF WE MANAGE TO CLOSE TODAY ABOVE 1.3220,WHAT I BELIEVE WE WILL,
WE CAN BE LOOKING AT THIS NICE LONG OPPORTUNITY.
YOU CAN TAKE THE GREEN ZONES AS TAKE PROFIT AREAS,
MANAGING YOUR RISK AND LOOKING HOW PROCE REACTS AT THIS AREAS.
A head and sholder patern is forming. A break of the neck line would show possibiliy to the downside. The first target would be the support zone around the 78% fibonacci level. The second target is the length of the head to the neck line of the head and sholder pattern.
chf/cad has touched 4hr/1hr zone followed by falling wedge. Price respected the weekly zone so I was actually waiting for retest of that area however, price has touched the 4hr/1hr zone before and that zone is very strong in terms of direction.