The spot metal is expected to gain a little strength against the USD before a further dip. The forecast shows a slight correction before the drop. Trade is not expected to be held for too long before changing to a sell entry. Updates coming later
Technical outlook shows that price completed wave B of a zigzag correction which wave C is expected to get to a region of 1.07380 - 1.07500. A break below 1.06300 shows that the wave B correction is not yet over.
Outlook shows that wave 3 of the impulse would be extended as price just completed an intermediate wave 1 of 3. Bullish move target for the intermediate wave 3 is expected to end at 1758.00 which is about 300pips from current market price. A break below 1711.00 renders the count invalid.
Current outlook shows a push down from the resistance. Price completed a bearish CRAB at 1.76500, dropping the first 5impulse wave down after which a 3waves correction of the 5impulse wave ended at 1.75970. Another 5waves is expected to push price towards 1.71800. A break above 1.76500 invalidates the count.
Technical outlook on CADCHF is presently showing a different dimension compared to the previous outlook. Price is now expected to hit the upper line and also to complete a SHARK pattern for a drop. A break above the upper line invalidates the analysis.
The precious metal had seen gaining against the USD for quit sometime. Going by my last post, price is expected to drop further as time goes by. Based on this chart outlook, price should fall to the lower channel line while a break below opens more opportunity to the down side. A break above the channel line invalidates the forecast.