CADCHF: Pair to Watch for Next Week's OpenCanadian Dollar / Swiss FrancCMCMARKETS:CADCHFFinancialGamblRThis is one pair that has my focus for the following week. On the daily timeframe, price is crossing below the 60-period exponential moving average (EMA60). This is an indication that we are likely to resume the downtrend. This is also further reinforced by the resistance holding where price failed to break above the 0.579 level in early March. On the 4-hour timeframe (H4), we get a choppier price action. This cautions us to potentially widen our stop loss if a trade were to be taken. Price breaks below the neckline and the ascending trend line (ATL) shortly after. For me, this is a further indication of confluence across timeframes where we will likely see momentum to the downside.