CADCHF: Bearish formation near weekly 61.8% fib

1.Strong weekly fib 61.8%
2.Divergences
3. Potential completion of wave 5
4. Advanced bearish formation

Price can reverse from where it is now or it can retest the red zone before any correction.

Good Luck!

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Price reached resistance trend line.

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CADCHF created a retraced up to 61.8% of the move down and created a nice flag. I am looking it as a 3 wave or 5 wave correction. Wait for a break and close of the candle outside the flag.