R.Linda Trading - forecast

Trading signals for #CADCHF → Downtrend triangle on the background of a bearish trend

FOREX forecast
💡Ideas For CADCHF 🇨🇦/🇨🇭

📈 CADCHF → Downtrend triangle on the background of a bearish trend

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CADCHF under trend pressure is forming a setup to continue the trend and update the global lows.

The currency pair is in the bearish phase. The price continues to decline and test the strong limit support line at 0.64990.

A descending triangle pattern is forming on the chart, which can be interpreted as pressure from dynamic sellers on limit buyers at 0.64990. The price is within the descending price channel, a retest of the trend resistance each time sends the price to the indicated support - a strong signal for a breakout

Moving averages act as resistance

Support levels: 0.64990

Resistance levels: trend boundary, 0.65450

I expect a bounce from resistance, which will lead the price to another retest of support, which may help the price to breakout.

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#CADCHF 🇨🇦/🇨🇭


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