💱 NZDCAD - Consolidation after a trend break. Falling further
Updated
NZDCAD is breaking the trend. Consolidation is formed below the trend support. A pattern is forming, which can send the price down and it can also be influenced by a false break-down of the resistance on the D1
TA on the high timeframe:
1) False breakdown of resistance 0.82621. There are three bearish candlesticks, indicating the interest of the market.
2) The price is getting closer to the liquidity, which is around 0.81300.
TA on the low timeframe:
1) The trend breaks and a wedge is formed.
2) If figure support breaks, at 0.81960 area, price could form a strong momentum towards 0.81591
3) The target support at 0.81591 may be a temporary shelter, but after the next retest it is worth waiting for a breakout of this area and decline in the price to the lower boundary of the range at 0.80671.
Key resistance 📈: 0.82174
Key support 📉: 0.81960, 0.81591
TA on the high timeframe:
1) False breakdown of resistance 0.82621. There are three bearish candlesticks, indicating the interest of the market.
2) The price is getting closer to the liquidity, which is around 0.81300.
TA on the low timeframe:
1) The trend breaks and a wedge is formed.
2) If figure support breaks, at 0.81960 area, price could form a strong momentum towards 0.81591
3) The target support at 0.81591 may be a temporary shelter, but after the next retest it is worth waiting for a breakout of this area and decline in the price to the lower boundary of the range at 0.80671.
Key resistance 📈: 0.82174
Key support 📉: 0.81960, 0.81591
Comment
The price reacts perfectly to the figure and after breaking the support quickly enough reaches the target
All about GOLD🥇
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Trading Tips💡
Secrets of🔑
Analysis📊
Forecasts🔔
FREE TELEGRAM:
🌹 Telegram channel: t.me/Go1dTech
😍 My contact: t.me/GoldTech
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.