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🟢Forex Pair: NZD/CAD
⚪Technical Analysis: Since the 20th of January 2021, once the price got a strong rejection on its main trendline, it has been moving with a clear uptrend, breaking through the S/R zone at about 0.91500, re-testing few times the same level before pushing up again. It is currently still in uptrend and there is a possibility to see the price re-testing an important weekly resistance zone at about 0.92500.
🔴Conclusion: I'm confident to see the price reaching the main weekly resistance zone and then collapsing down until its daily S/R level at about 0.91500, that would be a nice trend correction of its previous bullish impulse. The last daily bar is showing a possible sign of weakness and I'll be waiting for it to reach the weekly resistance zone before planning my short position on this trade.
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⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️