NZDCAD (Short Trade Plan)
NZDCAD pair appears to have traced out what looks like a bull trap as very large corrective structure seems to still be unfolding. Current price action is proving any further advance is under pressure, at least in the near term, and our bias is now turned bearish for now. We will be looking for any price close below upward sloping blue trend-line as well as below 0.93004/0.92531 cluster zone for short positions till black support line @ 0.91831 at which point proper upward rally considerations will begin.
However, further daily price close below 0.91410/0.91182 cluster support zone will open up new downside bias till near 0.88043 @ 0.88622
Nevertheless, daily price close above downward sloping black trend-line and green resistance line will invalidate this bearish view and turn outlook bullish again
However, further daily price close below 0.91410/0.91182 cluster support zone will open up new downside bias till near 0.88043 @ 0.88622
Nevertheless, daily price close above downward sloping black trend-line and green resistance line will invalidate this bearish view and turn outlook bullish again
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