Anticipating shift in trend downwards as price action demonstrates a strong momentum swing down. Additionally, MACD + Triple Time Frame RSI provide additional support for my idea
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NZD/CAD finds strong support at 110-EMA and cloud.
Break below will see drag till 38.2% Fib at 0.8914 ahead of 200-DMA at 0.8885.
Support levels - 0.9019 (110-EMA), 0.9010 (cloud base), 0.8914 (38.2% Fib)
Resistance levels - 0.9062 (200W SMA), 0.9075 (5-DMA and cloud top), 0.91
Watch out for break below 110-EMA to go short, SL: 0.9075, TP: 1.8915/ 1.8885
Sell NZDCAD on the rally for TP3!
Investment strategy Below!
You can follow the Chart to decide your Entry to Sell NZDCAD but let me tell you the pair is safe to trade with low news this Week which can impact it too much. Traders will follow mostly Trading Indicators and Technical Analysis to decide about their investment.
My Advice, Babacar J Diop, is to...
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Current leg-up on NZDCAD could lead to a retracement on the 4D-weekly chart.
A 2016 Nov' trendline matching with EQ of our bearish OB, 4D-RSI approaching trendline-resistance and overall price trading at OTE gives confluence here.
4D candle just closed below EQ and...
NZDCAD Short idea is based off of the monthly supply zone.
There is strong bearish pressure coming from the monthly supply zones. Reason being is because of 2 supply zones close to each other otherwise known as "levels on levels".
We have seen 3 touches of the weekly trendline resistance and this touch that is going to happen wont be any different. Price should...