After a fresh multi-year low in October/November low at 1.61000, the PA came rushing back on the backend of Omicron fears.. Only to establish a lower high on the monthly timeframe with a 61.8 Fib confluence. 1.66000 key level is acting as a major inflection point for this pair to continue downward pressure.
After weeks of messy PA, previous week NZDCAD experienced a massive meltdown, followed by a very big rally to the upside. Back to 0.85500 once a again. A big order hunt above the liquidity pool occurred that caused the sell off to continue quite rapidly. Price has now broken structure and a lower high formation could provide a good set up
After trending down from the many rejections of 1.25000. We have seen a bullish phase in the market that indicates a weekly retracement. Daily is still up and we have created a possible higher low formation ready for one more leg perhaps.
Top down perspective, clear downtrend with a fresh low being printed last week at 114.500 region. Im looking for a deeper pullback on EJ to short this currency cross back down to 115.000 and lower taking every step as it comes..
Don't step in too soon on this is my advice. Best to wait for the PA to pullback deeper for a better RRR.
This chart is very simple, We are technically still in a downtrend on this weekly format. We have printed a lower low formation after the Black Swan event early March. The market is currently printing a lower high formation .. until it breaks 10.500 USD clearly and moves away. Long term from a macro POV, I am very bullish on crypto in general though.
If we zoom out to the higher timeframes, the monthly perspective is till quite bearish for me. However, on the weekly timeframe the price has been pushing up very aggressively for the past weeks.
The last 3 weeks of price action have shown some exhaustion with profit taking occurring at 1.07500 and 1.07000 key levels. I am cautious and aware that any short...
0.87000 Rejected and liquidity being fulfilled at this price.
Possibilities here are as follow;
Short on a second attempt to break 0.87000 with lowered risk.
Await price to hit 0.86400 price range or even lower at 0.86000. Potential long positions around these price levels.
Although NZDCAD is in a very strong rally now for the past several weeks. I'm cautious...
Weekly retracement fulfilled at the 1.62500 region. Awaiting Tuesday's volatility to push this pair in to its direction. Overnight risk that could give this pair a slight push a head or seek more liquidity above the top region we are now trading at.
Im expecting EA to make its way to the highs of last week. IF this opportunity appears. I will place shorts on this and expecting 1.62250 as first downside target projection.
Weekly timeframe indicating massive exhaustion on this currency pair and longer term im expecting massive downside potential
After a massive rally early September, we have seen a nice and clear liquidity ''grab'' (fulfillment) at the highs with exhaustion and a lower high after.
Last weeks trading session has seen this pair push up to 108.000 and find ''resistance'' there in that orderblock of the lower high formation. Ive got a really clean set up on this and potentially, we could see...