Market Snapshots

CADCHF Wave Analysis – 30 October, 2019

CADCHF Wave Analysis – 30 October, 2019
  • CADCHF reversed from strong resistance zone
  • Likely to fall to 0.7570

CADCHF recently reversed down from resistance zone located between the multi-month resistance level 0.7620  (which has been reversing the price from February) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily candlesticks reversal pattern Evening Star – which stopped the earlier ABC correction 2 from August.

CADCHF is expected to fall further and retest the next support level 0.7570 (former strong resistance from September and the start of October).

 

Article Rating