The price made a fake break, it broke support 2 but rose from support 1, in this case, I expect the target - resistance level
🔸 4H CHART EXPLANATION: . . 🔸Price broke the Ascending Trendline. . 🔸It has broken the Support Zone. . 🔸We consider that this pair has bearish potential towards the Support Zone. . 🔸 Will look for a lower timeframe bearish setup. 🔸 DAILY CHART ANALYSIS:
NZDCAD broke major uptrendline Price broke neckline of Head & Shoulders pattern Below SMA 100 MACD shows bearish momentum It's expected for coming strong bearish wave to target support levels respectively 0.8744, 0.8650
Welcome to our weekly trade setup ( NZDCAD )! - 1 HOUR Sideways market structure around main sr level. 4 HOUR Price looks like we might see a strong drop shortly.. DAILY Good short positions, overall bearish looking market. - FOREX SWING SELL NZDCAD ENTRY LEVEL @ 0.88760 SL @ 0.89320 TP @ 0.87950 Max Risk. 0.5% - 1%! (Remember to add a few pips to all levels...
Buys look good from this level on the 4H chart, as we have price hitting the ascending TL for the third time, a retracement into the 78.6 fib level with a rejection doji candlestick, and also the 50EMA acting as support
The trend is your friend until the end when it bends. Lets see
NZDCAD is trading within a falling parallel channel. the price is stuck on 0.876 horizontal structure support and currently can't go lower. however, with the sequence of lower highs, the price formed a descending triangle formation within the channel. bearish violation of its horizontal support is a perfect signal to sell. goal - 0.8735 in case of a bullish...
If you are looking for a buy or a sell I feel price will use these prior zones to find its way through structure in price movement .
Bullish flag formed under the horizontal resistance, overall bullish. Will open a long either on the confirmed breakout of the bullish flag or crossover above the horizontal resistance on 0.88290.
NZDCAD broke major downtrendline Above SMA 100 RSI is above level 50 It's expected for coming correction to retest key level at 0.8744 which corresponds to 61.8% Fibonacci level then continue going upwards to target first HVN at level 0.8898 then finally target supply zone at level 0.9000