The CAD/CHF profit target was reached, remain bearish for a further drop
February 19, 2018 6:21 am
Price has dropped perfectly as expected and we are now seeing the price testing major resistance once again (channel resistance, horizontal overlap resistance, Fibonacci retracement), and a further drop is expected below this level towards the 0.7318 support (Fibonacci extension).
RSI (89) sees a long term descending resistance line holding the bearish momentum in price really well.
Sell below 0.7404. Stop loss at 0.7446. Take profit at 0.7318.
The material has been provided by InstaForex Company – www.instaforex.com
Price has dropped perfectly as expected and we are now seeing the price testing major resistance once again (channel resistance, horizontal overlap resistance, Fibonacci retracement), and a further drop is expected below this level towards the 0.7318 support (Fibonacci extension).
RSI (89) sees a long term descending resistance line holding the bearish momentum in price really well.
Sell below 0.7404. Stop loss at 0.7446. Take profit at 0.7318.
The material has been provided by InstaForex Company – www.instaforex.com
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