💱CADCHF - Dynamic Seller VS Limit Buyer

2023年8月24日

CADCHF is in a strong bearish trend, as the D1 chart tells us. Price is forming a retest of strong support, which prepares the market for further decline

TA on the high timeframe:
1) Support at 0.64863 plays an important role for us
2) The liquidity area is under intense attack from buyers. A break of 0.64888 - 0.6475 area will form a strong downside momentum

TA on the low timeframe:
1) A descending triangle is forming. This setup can be interpreted as pressure from dynamic sellers on the limit support level that buyers, mainly whales and managers, have built up
2) Another retest and breakout of 0.64888 will form a strong momentum as this area is already tight liquidity area

Key support📉: 0.64888 - 0.64750
Key resistance📈: triangle boundary, 0.65150