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...
As I said last week dollar break old intermediate Highs and make intermediate new Highs, now I am expecting that dollar make a little retracement to 97 and continue falling or just to continue falling until 96.20 0r 96.
For me is a strong sell for the confluence with order block, Fibo retracement, institutional price and Net short.
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AudUsd, Elliot wave triangle, Monday while bank holiday in USA Aussi Dollar was consolidationg earlier london session just around 0.71500 and as Dxy getting back strength and china usd deal is in progress, this pair has chance to break 0.71000 level.
Price has found it difficult to penetrate and close below the (141.536) Resistance zone.
After key components inline with release of news and technical price has successfuly closed below the 141.536 area. Looking for further downside movement in the coming week.
I can see a continuation of the bearish trend after a retracement to the 25 EMA due to the RSI being too low.
To support my prediction, I have the bearish trend coming off from a resistance found in the daily timeframe.
The stop-loss has been positioned with respect to the previous consolidation region. An ambitious target price was chosen short of a support...
Break and retest on daily trend-line suggesting bearish movement.
Ideal entry would be around the 1.32800 technical resistance level.
Targeting for the 1.32200 support level (previous daily/weekly low), with further potential swing being the 1.32000 psychological level.