jamiekent123
Short

NZDCAD Head & Shoulders

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZDCAD looks to be completing a head and shoulders pattern on the larger time frames. as well as this potential one here on the 1hr.


On the 1hr, a head and shoulders pattern looks to be forming - we can use this as confirmation of the above and as reason to target the lower levels.

If price does not confirm our head and shoulders then a sell at the higher, dotted red line would also be a great area for us to get in short. Price has respected this level twice already in recent times and would be the vital level for a head and shoulders on the higher time frames.

One must take care as the CAD is looking stronger on other charts at the moment ( USDCAD             looks to be reversing on the 4hr) and being a commodity currency, is heavily tied with oil             .
Comment:
snapshot


no h&s but a break is on the cards
Trade active:
snapshot
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