Sell CAD/CHF | Nov 12, 2019
Here is what I see on CAD/CHF:
We can set SL above right shoulder and can target either FIB50.0 (minimum target, it fulfills R:R::1:1) or ABCD100 .
There is no upcoming significant schedules even/data from Canada or Switzerland this week. I am not expecting BOC's Poloz to be hawkish on Thu.
Therefore, the price may go to ABCD100.0 in style of Newton's first law of motion. Keon Consultancy's 1st trade law of motion: price may remain at rest (sideways move in tight range) on in uniform motion (trending in a direction) unless an external force is applied. Technical levels and economic data/events work as external force.
If no external force applied, the fall may exceed to FIB61.8 that makes supprt cluster with ABCD100 or even to classical target of Head & Shoulder that coincides with FIB78.6.