CADCHF -0.75% bears has been pending for quite some time now and last week, we had a nice sell down from legendary supply zone .
However, friday's close did not break my support zone.
Perhaps CAD is stubborn because of the potential more bull in Oil 2.57% due to the dramas in Middle East?
Since xxx/CHF pairs are bearish at the moment, last week's price action...
*Distribution Phase is done and now the MMs are in Mark Down Phase.*
*They have been testing at the 145.00 Support Area for some time*
*On Friday 21st July, a clear rising wedge has been completed and the begun to dive to the next support.*
*They might test again at 145.00, between 61.8 and 78.6 to get more bearish momentum.*
*Watch Close and Short on...
*The falling wedge is done. (Bullish Trend Continuation) *
* Validated with 38.2 Fibo Retracement.*
*Unusual heavy volume starts to kicked in.*
*Breakout is unfolding and 12.00 level would be a good take profit level.*