CADCHF Analysis: Bearish Bias
Conclusion for today's CADCHF analysis: A sell off in the CAD CHF is anticipated that should last for weeks or months
The Daily timeframe of the CADCHF is presented in this analysis with a falling wedge chart pattern highlighted. A falling wedge is ideally bullish, but in this case, price consolidating and selling off at the upper boundary of the wedge implies bearish consequences. A bearish divergence on the Daily timeframe also argues for a sell off in the CADCHF and trade is expected to last for weeks to months.
Target for such a trade is the long term bullish trendline in the CADCHF or the lower boundary of the wedge.
The Daily timeframe of the CADCHF is presented in this analysis with a falling wedge chart pattern highlighted. A falling wedge is ideally bullish, but in this case, price consolidating and selling off at the upper boundary of the wedge implies bearish consequences. A bearish divergence on the Daily timeframe also argues for a sell off in the CADCHF and trade is expected to last for weeks to months.
Target for such a trade is the long term bullish trendline in the CADCHF or the lower boundary of the wedge.
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