CADCHF 31/07/2019
DAILY:
What can we see:
1. Descending trend-line, third touch ( anticipating further downside mvnt if oil can break lower)
2. Inserted the fibonacci tool. The 61.8% fib level lies on the Weekly key level, therefore looking for a sell from Region
4H
What can we see:
1. Previous rejections off the zone indicating sellers in the market
Bias = short
NB: confirmation = oil to break lower (below the 61.8% fib level)
What can we see:
1. Descending trend-line, third touch ( anticipating further downside mvnt if oil can break lower)
2. Inserted the fibonacci tool. The 61.8% fib level lies on the Weekly key level, therefore looking for a sell from Region
4H
What can we see:
1. Previous rejections off the zone indicating sellers in the market
Bias = short
NB: confirmation = oil to break lower (below the 61.8% fib level)
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