CADCHF Flat movement in the channel. Long.
In early December, the price formed a small straight channel.
The larger timeframe shows that these are parts of the movement along the older downtrend line.
The trend started in June 2020.
But in October it changed to a weak ascending one.
During this period, another resistance line was formed.
Now the price is close to this line and also from the lower channel border.
I expect the following price movement:
1 It will go down to the support line - the channel line 0.693.
1. Then it will rise to the resistance line (the zone, since the channel resistance line and the July one are also nearby).
The target is 0.696.
---------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
The larger timeframe shows that these are parts of the movement along the older downtrend line.
The trend started in June 2020.
But in October it changed to a weak ascending one.
During this period, another resistance line was formed.
Now the price is close to this line and also from the lower channel border.
I expect the following price movement:
1 It will go down to the support line - the channel line 0.693.
1. Then it will rise to the resistance line (the zone, since the channel resistance line and the July one are also nearby).
The target is 0.696.
---------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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