digging right into the technicals on the weekly price chart (monthly overview) 3 weeks ago, trading week of '8-12 Aug 2022' price made a retest to the prev broken bearish trendline which was firstly broken on the trading week of '21-25 May' forming the first full OHLC candlestick above the bearish trendline indicating a shift in monthly momentum to bullish adding fuel to the CADCHF taking price to a significant price level @ 0.78060 which acted as resistance as price failed to close above the level causing price to fall and react off the monthly demand level of proximal price @ 0.73690 adding extra bullish confluence was price reacting to bullish trendline failing to close below it. as of current price , price is up 1.04% for the week.
i forecast bullish targets to prev demand monthly level @ 0.08030 which is the primary target as i anticipate that price can go even higher in the later times. i have no positions on the currency pair as i price is not giving me a suitable risk, reward as i feel i am late to the party , 1.04% late to be exact
i am monitoring price and waiting for a retracement to lower timeframe fresh and original imbalances.
“Everything has its beauty, but not everyone sees it.” – Andy Warhol.
put together by : Pako Phutietsile , @currencynerd
presented by : @currencynerd
courtesy of : @TradingView , @currencynerd
i forecast bullish targets to prev demand monthly level @ 0.08030 which is the primary target as i anticipate that price can go even higher in the later times. i have no positions on the currency pair as i price is not giving me a suitable risk, reward as i feel i am late to the party , 1.04% late to be exact
i am monitoring price and waiting for a retracement to lower timeframe fresh and original imbalances.
“Everything has its beauty, but not everyone sees it.” – Andy Warhol.
put together by : Pako Phutietsile , @currencynerd
presented by : @currencynerd
courtesy of : @TradingView , @currencynerd
