CAD/CHF Weekly Analysis – Will We Continue to the Downside?
CAD/CHF is showing no signs of a reversal on the Weekly chart. We currently have a descending triangle in a bear trend, signaling a continuation to the downside. Until we see a bull signal bar with a confirmation bar closing on or near its high, we should remain short. I would wait for a minor pullback at least to the Weekly 9EMA to short again, depending on how the price action plays out.
1. CAD/CHF is in a bear trend
2. Descending Triangle signals a continuation to the downside
3. RSI has room to fall
4. Until we see a bull signal with confirmation, remain short
As always, trade at your own risk, you are responsible for your trades. I hope this analysis was insightful and useful.
Trade wisely and let us know what you think in the comment section below!