Going off the update in my last post, The bulls have managed to secure a bullish 4hr candle closure breaking the trendline now we will look for a retest and rejection to solidify a bullish victory and enter our trade. Beyond technical analysis we will be monitoring the strength of each currency pair and how AUD reacts to tonights news event.
The bears reinforcements finally arrived once price hit the structure of the previous resistance and downtrending channel. The 4hr Bearish engulfing candle after the tap of the target zone has signified Bearish reinforcement. Using current price action we can assume short until atleast 1.79500 with potential for bears to be in control all the way down to the...
Long term i see bullish moves on the weekly chart for NZDCAD. The top of a channel was just broken and NZD has had a considerable amount of strength over CAD for a couple weeks now.Previous resistances are now being used as supports.
sell after fail break out and back
into the down trend
sell only from red line
buy only after bounced below trend line
but the sell possitin more actually
so we wait for sell