Since the beginning of the week we see declines that began with bearish weekend gap. As a result of these declines on the chart H4 we observed intersection of moving averages EMA 10 and 20. If in the near future the market will perform a small correction and re-testing rejects the area between the EMAs, then we could expect a decline for which the potential targets are sequentially around 120 EMA – 1.4688 and further 1.4579 and 1.4340
An additional confirmation of the decline is also the current situation on the oscillator MACD.
Simillary as in the case of EURCAD also CADCHF opened market with weekend gap but in this case, a bullish, so right away we found price above the EMA 20. As a result of the ongoing consolidation on the beginning of the week we saw the intersection of the 10 and 20 EMA which signal changes in market sentiment. An additional confirmation of growth in the near future is the present situation on the oscillator MACD, which indicates upward trend.