Hello Traders!
I wanted to update my previous post on NZDCAD. We got the bounce from the lower boundary of the trend channel, however due to correlations (OIL) strengthening, we see multiple rejections at the 0.9061 level. I expect the Loonie to gain ground in the near future which I will be looking for a short position if price breaks out of the channel.
Also, we can see a pretty distinct bearish divergence on the MACD indicator.
Do your own research, use strict Risk Management!
Good Luck!
Please comment below and share your ideas to help support more of these. Dont forget to click the LIKE button and FOLLOW me!
NZDCAD
I wanted to update my previous post on NZDCAD. We got the bounce from the lower boundary of the trend channel, however due to correlations (OIL) strengthening, we see multiple rejections at the 0.9061 level. I expect the Loonie to gain ground in the near future which I will be looking for a short position if price breaks out of the channel.
Also, we can see a pretty distinct bearish divergence on the MACD indicator.
Do your own research, use strict Risk Management!
Good Luck!
Please comment below and share your ideas to help support more of these. Dont forget to click the LIKE button and FOLLOW me!
NZDCAD
