nryan92
Education

NZDCAD Potential Short

OANDA:NZDCAD   NZD/CAD
Weekly - as we can see NZD has been on a downtrend since November 2016 and has been respecting the descending trendline on separate occasions and on every-time it has reversed heavily. NZDCAD is approaching a key level and double top region, the last price has broken through this area was 11 months ago in march, since then it has been rejected 6 times and we are approaching the 7th attempt

Daily - on the daily price has been ranging since the start of the year then price broke out last week and has been very bullish for 3 consecutive days. we now see price hitting our descending weekly trend line and the weekly price zone in red

What We Are Looking For - we want to price to enter and reject this red zone and yellow circle to show that sellers are active. and then we want to see sellers take full control. by reject I would expect multiple candles with very large wicks and small body's

Fundamentals - NZD PMI and CAD new house pricing on Thursdays which is only medium volitility so it should not effect our charts to much
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