Clear Corrective Structure on CADCHF by ThinkingAntsOk
Use this as a guide to develop your view.
Main items we can see on the Daily Chart:
a)The price was inside a big descending channel before it broke it
b)On the Weekly chart, you can see that the price also broke a support zone that is working as resistance now.
c)On that zone, we can see a corrective Structure making a pullback to the resistance zone and the broken channel
d)Based on that we expect a continuation of the bearish movement, towards the next support zone (0.65 dynamic Support)
Main items we can see on the Daily Chart:
a)The price was inside a big descending channel before it broke it
b)On the Weekly chart, you can see that the price also broke a support zone that is working as resistance now.
c)On that zone, we can see a corrective Structure making a pullback to the resistance zone and the broken channel
d)Based on that we expect a continuation of the bearish movement, towards the next support zone (0.65 dynamic Support)
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