. There is still a possibility of temporary retracement to suggested resistance line (0.8495). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic...
after just breaking a double top area and re grabbing a few more orders i will now wait to see if we break this trend and then wait for confirmation for either a bearish breakout or breaking new Lows then i will be interested keep your eyes on this!
As you can see the market dropped accordingly to the H&S and it's coming back for a retest. You could enter the trade here but just be aware that the trend line has been holding for nearly a year, giving us reason that it could be a retest. Also the RSI has recovered after dropping heavy, showing us that the market is not over sold.