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FOREX TRADING - 21 nov CADCHF +61 pips

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Can The CAD/CHF Extend Its Bearish Trend?

• The graph below is the CAD/CHF 4-hour diagram by ForexYard .

• The intricate indicators hardened are the Bollinger Bands, the Behindhand Stochastic, the MACD/OsMA and the Related Persuasiveness Sign (RSI). The Fibonacci Retracement words were tired as well.

• The Torpid Stochastic is currently fluctuating below the 20 type, indicating that the thrust is uncommonly bearish.

• A bearish rub out has entranced diggings on the MACD, suggesting that the bearish vogue has more leeway to go.

• The RSI has bottomed at the Over-Sold portion, yet it continues to sharp end down. This means that the dyad could still dash further.

• The Fibonacci Retracement words show that the yoke has dropped below the 38.2% brand, positioned at the 0.9795 even, and is currently plunging towards the 23.6% filament, to be found at the 0.9720 invariable.

• If the double will droplet below the 23.6% ancestry, it may have the passive to reach as low as the 0.9600 even (the 0% tailback).

• However, if the duo to fails to contravention the 23.6% spiel, it is reasonable to be promoted back to the 0.9795 plane (the 38.2% make).

Source: Can The CAD/CHF Extend Its Bearish Trend?