NZDCAD: Top-Down Analysis & Bearish Outlook 🇳🇿🇨🇦 Short

NZD/CADOANDA

Description

⋅ Apr 4, 2024 1:23 PM

NZDCAD nicely respected a recently broken key horizontal daily support.
After its bearish violation, an underlined blue area turned into resistance.

Testing the broken structure, the price formed a double top pattern
on an hourly time frame, giving us an intraday bearish confirmation.

We can expect a retracement at least to 0.8136

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Comments

nellaicloud4soft

⋅ Apr 5, 2024 2:57 AM

Did you watch AUDJPY yesterday.

nellaicloud4soft

⋅ Apr 5, 2024 2:55 AM

made new high of 0.81730.
then pull back happened to 0.81559
made a high 0.81710 which is fail to make HH
waiting for 0.81559 to break.
after that would initiate a sell order between 0.81559 & 0.81710

VasilyTrader

⋅ Apr 4, 2024 1:24 PM

Are you bearish on NZDCAD?