Market Snapshots

CADCHF Wave Analysis – 27 August, 2019

CADCHF Wave Analysis – 27 August, 2019
  • CADCHF broke resistance area
  • Further gains are likely

CADCHF recently broke the resistance zone lying between the resistance level 0.7400 (former support from March) and the 38.2% Fibonacci correction of the previous downward impulse from July.

The breakout of this resistance area accelerated the active short-term ABC correction (ii).

CADCHF is expected to rise further and retest the next resistance level 0.7500 (target price for the completion of the active wave (ii)).

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