#ABCcorrection

[traderpulse]

AUD/CAD Technical Analysis ~~ The counter is currently trading around a strong resistance zone that triggered a sell-off previously. ~~ According to the wave, it has now completed the ABC correction for the down move it made. ~~ Further, the entire setup looks like a head and shoulder in the higher timeframes. ~~ Hence, we expect the pair to move down from here to the potential supportive trendline marked in the chart and if it is broken, it could trigger a larger sell-off. Get the free analysis: Android: https://play.google.com/store/apps/details?id=com.traderpulse.analysis IOS: https://apps.apple.com/app/forex-analysis/id1358603638 Web: https://analysis.traderpulse.com

[traderpulse]

USD/CHF Wave Analysis ** The counter is has been in a correction formation ever since it spiked due to the corona pandemic. ** The move can be interpreted as a typical ABC correction and the pair has formed an inverted head and shoulder pattern at the lows(visible in shorter timeframes), indicating that the pair has bottomed out. ** We expect a 5-wave upswing from the lows after this deep consolidation. ** Now, the price action needs to cross above the descending trendline to validate the setup. ** Hence, we advise traders to go long only when the trendline breaks. ** However, if you do want precise trade levels and further updates on the trade, we suggest you to subscribe our premium service. Get the free analysis: Android: https://play.google.com/store/apps/details?id=com.traderpulse.analysis IOS: https://apps.apple.com/app/forex-analysis/id1358603638 Web: https://analysis.traderpulse.com