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positionforex
Dec 28, 2018 11:27 PM

NZD/CAD sell off coming soon?  

New Zealand Dollar/Canadian DollarFXCM

Description

Prior State: Long-term downtrend since June 2017 has been in effect will multiple countertrend rallies.

Current State: Price has stalled with multiple bearish reversal candles at prior resistance near .9150.

Future Forecast: Resistance at .9150 will hold and with any rise in Crude Oil prices momentum will turn to the downside. Below .8925 will confirm a change in trend and create a short opportunity.

Trade active

Price now lower on "risk-off" news from China. Very negative for NZD.
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