CAD/CHF: 16.02.2017
D1 graphics.
Consolidation below key levels of horizontal resistance.
Price at the top of the consolidation of the triangle formation.
Price action: Two pin bar and a price below their base - possibly bearish momentum.
Technical indicators:
SMA50 and SMA200 not give clear signals on consolidation
SL 0,7760
Foundation: The price of oil remains in consolidation, as there is uncertainty how it works agreement on limiting production, which is negative for the Canadian currency.
Alternative scenario: A break of diagonal resistance and retention cost (at least 3 bars) will give us a basis for long positions.
Trader Nikolay Georgiev
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