Canadian Dollar vs Swiss Franc - a BEARs only party?
CADCHF Analysis
The price has hit an all-time low.
It broke the 2015 support level in the monthly chart. It is currently consolidating around the support level. Possibly prepping for a continuation downwards.
In the daily chart, a bear flag pattern is clearly visible hinting for a possible breakout of the monthly support level (blue horizontal line).
The pattern is still in the process of forming itself.
Possible entry would be when the price cracks further below all time low confirming a SELL entry. .
The price has hit an all-time low.
It broke the 2015 support level in the monthly chart. It is currently consolidating around the support level. Possibly prepping for a continuation downwards.
In the daily chart, a bear flag pattern is clearly visible hinting for a possible breakout of the monthly support level (blue horizontal line).
The pattern is still in the process of forming itself.
Possible entry would be when the price cracks further below all time low confirming a SELL entry. .
Comment:
Entered a SELL trade at the top of the flag. Target at the bottom of the flag. Possible re-entry if the prices breaks out from the bear flag pattern. I'll keep all posted on how the trade went.