akyong
Short

NZDCAD: Bearish Structure Setups

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Price has been breaking lower on the H4 chart and we are looking for potential short opportunities around the 0.9230 and 0.9300 resistance levels which confluence with 50% and 61.8% fibonacci levels as well.

The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region.

OUR DIRECTIONAL BIAS FOR THE WEEK

- NZD bearish (RBZD tone was dovish in their last statement) - watch out for employment data and Gov             Wheeler speech
- CAD neutral ( BoC             tone was optimistic in their last statement, and potential bottom of Oil             ) - watch out any update in the Oil             market

For more detailed analysis, visit our blog at: http://www.fxpresearch.com/market-analysis/2016/1/31/31st-january-market-analysis
Chief Currency Strategist
Alpha Play Forex Trading School - www.alphaplay.com.sg
YouTube - https://www.youtube.com/user/akyong9
Facebook - https://www.facebook.com/karyong

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manutdke
10 months ago
great analysis! thinking the same
Reply
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