JallenForex

NZDCAD | Opportunity for low risk short.

Short
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
NZDCAD has been trading in a descending channel on the daily chart for some time.
After failing to reach the descending trend line at the top level of the channel price has steadily declined and broke below 0.9100 support.
Price is now treating this zone as resistance and we've seen a slow down in momentum.

If price declined to the 0.89150 support we would go short upon a break & retest of this level.

Alternatively we may see price increase to the descending trend line before dropping. Either opportunity sets us up with a low risk short trade.



Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out