CAD/CHF: Shoulder Head Shoulder

25 oct. 2022

Canadian Dollar/Swiss Franc look bearish in this side as we see a clearly Shoulder Head Shoulder (a bearish pattern). Because what we see that the price doesn't make a support, did you know? a weak as it's show us in this moment. This it's not a bullish signal, it's mean a market trap in formation that we would need to be pending in this trade. What I'm bearish in CAD/CHF. We see that the price forming like a little bearish rising wedge.



In this screenshot, we see a perfect formation of this bearish chartist pattern!!! Shoulder Head Shoulder



Now, we see this point that CAD/CHF it's in the higher point to sell. What we see a key point to remain in this purple arrow that I show you very well. But this signal it's bearish for who watching

Now, I'm shorting CAD/CHF from $0.7302 CHF, Stop Loss to $0.7332 CHF (30 pips) and target profit to $0.7230 CHF (71 pips)

Now, I'm not bullish and the bullish perspective what I sending the screenshot, it's not valid, what I update the information here,

Good luck!!!

Remember: For tomorrow we hope the interest rate decision by Bank of Canada, what hope to hike another 75 bps to 4%, previosuly was 3.25%.

So, we hope this important event for Canadian currency.