SmithTradeSmart

USDCAD - Sell Opportunity Back To Prior Resistance | 1:3 RR

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
📢EURNZD 1H - Technical Breakdown

📈Price action clearly broke upwards out of the descending wedge shown in my last tradingview analysis. Since then a failure to gain has taken place and bullish momentum seems to have come to a halt.

📈A short opportunity from the current market price presents a 1:3 RR trade aiming to bank 120 pips down to the prior wedge resistance line.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.