Hello Traders, welcome to the Daily Forex technical analysis
. Today is July 16th, 2019 and we will be taking a look at the New Zealand Dollar
against the Canadian Dollar
. Looking at the 4 hour time frame we are looking for price action to lose steam heading into the .8797 resistance area
. If price action fails to break above this local top we will be looking for profitable conditions to set up for a short entry. Entry for a Short position near the .87960 resistance area
, with a Stop Loss near the .88205, for what can be a profitable trade with a 2.47 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!