After almost a week of consolidation, CADCHF has finally started to fall into profit. Ethereum has begun its path to create a new all-time high as the price comes near $4,400.
CADCHF is finally showing momentum to the downside after the price spent a week attempting to break resistance at 0.74800. This patience has been rewarded as this trade is up +50 pips. More downside is expected as the price prints another shooting star on the daily time frame.
Shortly after Bitcoin created a new all-time high, Ethereum bulls catapulted price inches away from the all-time high. Since then, bears have pushed prices back down to $4,000. This could be a nice area for traders to look for longs so as long as price action remains bullish.
Tomorrow during the London session we have the Euro and Pound PMI releases. Currently, all the forecasts are bearish across the board. If this holds true, traders could see both EURUSD and GBPUSD head lower on the intraday scale.
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