NZDCAD Daily Analysis 3/15/20
NZDCAD Short Idea
Last week we saw this pair turn extremely bearish with huge momentum all the way to our major support level around 0.83750
From this level we’re looking for one of two situations to play out
1. A significant bounce keeping price action within this range, look to target significant resistance levels
2. Bearish momentum does not slow down and pushes price action through the current support level, look to target significant support levels
A perfect setup for a short position would be a break and retest of support at 0.83750 followed by strong bearish confirmations on multiple timeframes
Last week we saw this pair turn extremely bearish with huge momentum all the way to our major support level around 0.83750
From this level we’re looking for one of two situations to play out
1. A significant bounce keeping price action within this range, look to target significant resistance levels
2. Bearish momentum does not slow down and pushes price action through the current support level, look to target significant support levels
A perfect setup for a short position would be a break and retest of support at 0.83750 followed by strong bearish confirmations on multiple timeframes
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