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CADCHF Weekly Forex Forecast 21st October to 27th October by yshashmi37 on TradingView.com
Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 0.7530 would begin in Midterm.
Technical analysis:
The ascending flag taking shape suggests we will soon see another leg higher.
The RSI downtrend #1 is broken, so the probability of beginning of downtrend is decreased.
While the RSI support #2 at 50 is not broken, the probability of price decrease would be too low.
A peak is formed in daily chart at 0.7665 on 10/16/2018, so more losses to support(s) 0.7570 and minimum to Major Support (0.7530) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 52.
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