. There is a possibility of temporary retracement to suggested support line (0.7290). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. CADCHF is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance....
Doing the same mov as it did before.
Let see what is the behave after touching the blue rectangle which indicate us a res line.
Yellow circle is representing the same mov/behave that I'm alerting about.
My analyses consist in:
- TREND LINES
- RES & SUPP LINES or AREAS
- REPETITION OF THE MOV
- ADDING A FIB WHEN I'M MORE SURE ABOUT THE MOV TO CHECK THE KEY POINTS.