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NZDCAD: The BULLISH Impulse close to the end!

Short
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
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🟢Forex Pair:
NZD/CAD

Technical Analysis:
Since the 20th of January 2021, once the price got a strong rejection on its main trendline, it has been moving with a clear uptrend, breaking through the S/R zone at about 0.91500, re-testing few times the same level before pushing up again.
It is currently still in uptrend and there is a possibility to see the price re-testing an important weekly resistance zone at about 0.92500.

🔴Conclusion:
I'm confident to see the price reaching the main weekly resistance zone and then collapsing down until its daily S/R level at about 0.91500, that would be a nice trend correction of its previous bullish impulse.
The last daily bar is showing a possible sign of weakness and I'll be waiting for it to reach the weekly resistance zone before planning my short position on this trade.

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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️

Trade Safe and Responsibly,
Gianni

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Comments

perfect setup
+1 Reply
FXtrades-gp Samoburger
@Samoburger I’m so glad to hear that Samoburger 😊
Reply
keep it up gentleman!
+1 Reply
FXtrades-gp TheSignalyst
@TheSignalyst many many thanks 🙏
Reply
Nice chart setup
+1 Reply
FXtrades-gp Mahtab_Tradia
@Mahtab_Tradia many thanks Mahtab ! 😁👌
Reply
Seems like a good time to enter
+1 Reply
@abel11 probably yes ! Let’s see !
Reply
perfect
+1 Reply
FXtrades-gp TRADiNG_hub
@TRADiNG_hub thanks a lot ! ☺️
Reply
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