NZDCAD - Support rejection can turn pair bullish
Updated
Good week everyone,
As we can see NZDCAD is rejecting the bottom of our big channel (daily) and 50 weekly EMA level.
Now we can see H4 price is approaching 50ema+200sma and already overbought on h1 and because of this, its not a good idea to long right now.
Strategy: Wait break and close above H4 50EMA then long aiming monthly pivot + .382 fibo zone around .91000
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
As we can see NZDCAD is rejecting the bottom of our big channel (daily) and 50 weekly EMA level.
Now we can see H4 price is approaching 50ema+200sma and already overbought on h1 and because of this, its not a good idea to long right now.
Strategy: Wait break and close above H4 50EMA then long aiming monthly pivot + .382 fibo zone around .91000
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
Comment
No trade opportunity so far , however if we break current high at 200SMA h4 ,a long can trigger for sure.
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