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VladimirRibakov
Jul 14, 2020 12:09 PM

NZDCAD Forecast Short

NZD/CADOANDA

Description

D1 - The price which is moving higher has reached a key resistance zone formed by the 100% fibonacci expansion level of the first wave at 0.89197 and 0.89 psychological level, bearish divergence.

H4 - Bearish divergence.

H1 - Bearish divergence followed by a bearish trend pattern in the form of three lower highs, lower lows.

Expecting further continuation lower after pullbacks.

Comment

The price action followed my analysis and delivered a nice move to the downside.
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