Price tried to breaks the descending trend line but it couldn't make it.
A Piercing line pattern happened right under the trend line.
I believe we should look for bearish positions.
If you look at the monthly chart of the NZDCAD Forex pair, you will see that is has been on a uptrend since it's opening. However, you could also clearly see that it cannot penetrate above the levels of the monthly (major) resistance. With the continuous failure to break above, a possible trend reversal (on monthly level) may be taking place -- the bears are...
