Bearish Idea on NZD/CAD
Good morning traders, today we detected a good opportunity in the NZD/CAD pair and we want to share it with you.
🔸First of all, the price has been in an uptrend for a long time, and we can confirm this with the Ascending Channel.
🔸It recently bounced from a Weekly Resistance Zone.
🔸From there, a bearish movement began, and, for the moment, it appears to be a correction of the main trend.
🔸Now the price is breaking the trendline, and is supported by a strong Support Zone.
🔸To confirm the bearish view, we are waiting for a clear bearish breakout.
🔸The target of the move is the next support zone at 0.86370.
🔸First of all, the price has been in an uptrend for a long time, and we can confirm this with the Ascending Channel.
🔸It recently bounced from a Weekly Resistance Zone.
🔸From there, a bearish movement began, and, for the moment, it appears to be a correction of the main trend.
🔸Now the price is breaking the trendline, and is supported by a strong Support Zone.
🔸To confirm the bearish view, we are waiting for a clear bearish breakout.
🔸The target of the move is the next support zone at 0.86370.
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