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Wednesday, 17 February 2016 12:37

CAD/CHF down in the short term?

After a pullback to test the descending 60 days ema, we might expect a decrease of CanadianDollar/Japanese Yen Spot (CAD/CHF) in the short term.
Yesterday ended with a pseudo upthrust (shooting star candle), which, according to the Volume Spead Analysis, represents a possible reversal setup.

cad chf forex canadian dollar swiss franc pullback shooting star pseudo upthrust trading for purpose

Another bearish setup is provided by the decrease of the volumes in the days before the shooting star (pseudo upthrust).

cad chf forex canadian dollar swiss franc pullback shooting star pseudo upthrust volume spread analysis trading for purpose

We can probably expect a short period retracement, but remember: this is not a trade solicitation and, if you decide to trade, you do it at your own responsibility

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