Technical analysis

CADCHF Wave Analysis – 15 November, 2019

CADCHF Wave Analysis – 15 November, 2019
  • CADCHF reversed from support area
  • Likely to rise to 0.7500

CADCHF recently reversed up from the support zone lying between the support level 0.7440 (which earlier reversed multiple downward corrections from September), lower daily Bollinger Band and the 50% Fibonacci correction of the previous upward impulse (1) from the start of August.

The upward reversal from this support area stopped the earlier short-term impulse wave C of the ABC correction (2).

CADCHF is expected to rise further toward the next resistance level 0.7500 (former support from October)

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