CADCHF under heavy bearish pressure
We are bouncing the 0.5 Fib levels and the stochastic is under some heavy pressure.
Ont the H4 we also note the Stochastic is in a overbought state.
On the weekly we are bouncing the 0.618 Fib level.
And this is the one I just love.....
The EMA50 is aligning with the 0.775 level giving nice protection.
Also note the strong down trend on this pair.
CADCHFNota
We are now reaching the 0.618 FIB level and the entry looks very attractive!!! Also note how overbought the Stochastic is.Nota
Hold on! This bear run is far from over.......
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