CADCHF Continuation Downside, Watch for correction

19 ส.ค. 2021

Hi everyone:

Some big movement in the last few days on USD. CHF, JPY pairs, and I was able to get in on the CADJPY sell.

Looks like CAD pairs are getting weaker, and I can expect CADCHF to also continue its bearish price action.

We can see after the initial bullish up move, price formed a pennant/triangle correction, but didn't not continue its originally move up.

Instead it was reversal correction, price then push down impulsively, and formed a continuation correction.

Latest price manages to impulse out of the correction, good sign of continuation.

I will be waiting for a lower time frame continuation correction to form and complete, before jumping onto another sell on the CAD.

Thank you