If resistance of prior lows holds, it will act as a ceiling for the coming price action.
The CAD is nearing the completion of the falling stage of momentum cycle, not particularly oversold yet, but it may be able to show some strength now. The CHF is starting to get hotter and overbought, and yet it's very strong, not to be fought against. So I'll be looking to go short again just below the very ceiling, expecting another leg down.
The CAD is nearing the completion of the falling stage of momentum cycle, not particularly oversold yet, but it may be able to show some strength now. The CHF is starting to get hotter and overbought, and yet it's very strong, not to be fought against. So I'll be looking to go short again just below the very ceiling, expecting another leg down.