CADCHF Bullish and Bearish view by ThinkingAntsOk
Main items we can see on the chart:
a) Currently, the price is below a Support Zone
b) We don't know yet if we are in front of a new bullish or bearish motive wave
c) LONG SCENARIO: We want to see a clear breakout of the last bearish channel + throwback (retest of the broken structure) only there we will set long orders towards the next resistance zone
d) BEARISH SCENARIO: We want to see a clear pullback on the broken support zone (now working as a resistance) only there we will set short orders. Our target will be the next support zone
a) Currently, the price is below a Support Zone
b) We don't know yet if we are in front of a new bullish or bearish motive wave
c) LONG SCENARIO: We want to see a clear breakout of the last bearish channel + throwback (retest of the broken structure) only there we will set long orders towards the next resistance zone
d) BEARISH SCENARIO: We want to see a clear pullback on the broken support zone (now working as a resistance) only there we will set short orders. Our target will be the next support zone