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francesgurton
Jan 26, 2021 10:02 PM

NZD/CAD - Short Short

New Zealand Dollar/Canadian DollarFXCM

Description

Possible short opportunity on NZD/CAD.

following a break out from the uptrend, the price has returned with bullish momentum and has now reached an area of resistance.

Following a break in the trend line, bearish rejection at this zone (0.9190), and signals from the MACD and RVI I believe we could see bearish momentum down to support at 0.9050.
Comments
umran44
Had exactly the same set up as me, I’m already in NZDCAD as a short
fxpays
Nice analysis👏 there was a nice rejection from the 78.60 fib as well
francesgurton
*correction* Third arrow should be point down!
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