We are seeing a possibility for more Bears to enter NZDCAD for this upcoming week.
Off of the Weekly time frame, you can see an obvious area of resistance that was respected back on December 16, 2018 and again March 17, 2019. Seeing that price could be holding this resistance, we can expect a nice entry zone for Bears between 0.92125 - 0.91766 (based off our pivot point confluence drawn up on the H1 time frame). If price hits this zone this week, expect to win about 100 pips near the Exit zone drawn up on our analysis here.
Off of the Weekly time frame, you can see an obvious area of resistance that was respected back on December 16, 2018 and again March 17, 2019. Seeing that price could be holding this resistance, we can expect a nice entry zone for Bears between 0.92125 - 0.91766 (based off our pivot point confluence drawn up on the H1 time frame). If price hits this zone this week, expect to win about 100 pips near the Exit zone drawn up on our analysis here.
Comment:
After about a week, if you haven't taken this trade, there is still a possibility of taking a sell on this pair. Price is right at our entry for Bears.
Trade closed: target reached:
Confidently smashed.