We start with a nice, clean, technical setup on the CADCHF. The price bounced from the 38,2% Fibonacci and broke the lower line of the bullish correction.
We start with a nice, clean, technical setup on the CADCHF. The price bounced from the 38,2% Fibonacci and broke the lower line of the bullish correction. That would be a great sell only if not the BoC later today. Movements after the decision and statement are impossible to predict, which makes this setup very risky at this moment.
NZDCHF is having a very nice sell signal. The price broke the lower line of the flag, creating a head and shoulders pattern at the top of this formation. Today, the price is going lower, which confirms this sell signal.
NZDUSD comes back to the downtrend after flirting with the horizontal resistance. It looks that the green line is rejected and we should see a further decline.
This article is written by Tomasz Wisniewski, a senior analyst at Alpari Research & Analysis
During his career, Tomasz has held over 400 webinars, live seminars and lectures across Poland. He is also an academic lecturer at Kozminski University. In his previous work, Tomasz initiated live trading programs, where he traded on real accounts, showing his transactions, providing signals and special webinars for his clients.