NZDCAD: Be ready to SHORT on this Opportunity!
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
NZD/CAD
⚪Technical Analysis:
Since November 2020, the price has been following an interesting trendline, bouncing on it many times during the last few months.
Once it reached the main resistance zone at about 0.92500 on the 6th of January 2020, it just quickly and heavily collapsed back to its main trendline, getting then, a strong trend correction.
It has currently re-testing the S/R zone at about 0.91500 and the next price action on this area will be essential to understand the next market movement.
🔴Conclusion:
The last bullish impulse wasn't able to break the 0.92000 level and it could be a nice sign of market weakness.
I'll be waiting for more sessions to understand properly the next direction but I'm currently confident to see the price falling down until the main trendline.
I'll update this idea with a clear Signal as soon as we'll get a clear rejection on that level.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your
🟢Forex Pair:
NZD/CAD
⚪Technical Analysis:
Since November 2020, the price has been following an interesting trendline, bouncing on it many times during the last few months.
Once it reached the main resistance zone at about 0.92500 on the 6th of January 2020, it just quickly and heavily collapsed back to its main trendline, getting then, a strong trend correction.
It has currently re-testing the S/R zone at about 0.91500 and the next price action on this area will be essential to understand the next market movement.
🔴Conclusion:
The last bullish impulse wasn't able to break the 0.92000 level and it could be a nice sign of market weakness.
I'll be waiting for more sessions to understand properly the next direction but I'm currently confident to see the price falling down until the main trendline.
I'll update this idea with a clear Signal as soon as we'll get a clear rejection on that level.
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.