Double Top at Resistance

Simon Cotterill SC Trading

Today, we will be looking at the CADCHF, we can note from the weekly chart we have come up to resistance of a descending trendline at around 0.7570, and have come off this level with today's candle currently engulfing yesterdays rise.

Focusing in on the 4 hour chart we can see a possible double top at the trendline resistance and a break of 0.7544 may see a move down to the 0.75 area.

Author

Simon Cotterill

SC Trading

As a technical analyst with an eye on the news.

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