NZDJPY → A false breakout of resistance will trigger a declineFX:NZDJPY entered a correction phase after a sharp decline. The main trend is downward, with a countertrend movement aimed at consolidating potential before further decline.
A countertrend correction is forming against the backdrop of the main downward trend. The current movement may be aimed at hunting for liquidity before continuing its movement. Focus on the resistance zone at 86.67
The currency pair is trading below key resistance within the global downtrend. As part of the correction, the price may test 86.67 - 87.10 before continuing the main trend.
Resistance levels: 86.67, 86.97, 97.11
Support levels: 85.97, 85.6
If a false breakout of the key zone of interest forms during the correction without the possibility of continuing growth, we will receive confirmation that the market is ready to move down. Consolidation below the level may trigger a downward impulse.
Best regards, R. Linda!
Consoldation
Consolidation prior to Short - retest of the lowAUDCAD has been in a longer term down trend , with last week seeing a break of the head and shoulders pattern to hit the .938 TP.
We are seeing AUDCAD now in a wedge consolidation around the .95 area, prior to a move to the downside to retest the .938 zone.
Once the consolidation has bound up, a good area for a sell stop, with the SL around the .95 area and TP at the .938
Happy Hunting
Final wave in USDCAD triple three correctionBuy FX:USDCAD into potential wave C to complete triple three correction and form a three drives pattern @ 1.3830. Still, might not complete this one as it looks too perfect to materialize :)
Buy 1.3170
Stop 1.3140
Target1 1.3430
Target2 1.3670
Target3 1.3830


