CAD/CHF Monthly Outlook - symmetric triangle pattern was formed to be crossed for direction
1 October 2015, 09:11
0
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W1 price is located below 200 period SMA
(200-SMA) and below 100 period SMA (100-SMA) for the primary bearish with the secondary ranging market condition:
- the price is ranging between 38.2% Fibo resistance level at 0.7347 and 23.6% Fibo support level at 0.7202;
- symmetric triangle pattern was formed by the price to be crossed for direction;
- RSI indicator is estimating the rangingf bearish condition.
If the price will break 23.6% Fibo support level at 0.7202
so the primary bearish trend will be continuing.
If the price will break 38.2% Fibo resistance level at 0.7347 from below to above so the secondary bear market rally will be started.
Trend:
