NZD/CAD struggles to break the key level. If the price will break it, we would take long entry with our members with awesome risk to reward and probabilities for a nice push to the upside.
Price tried to breaks the descending trend line but it couldn't make it.
A Piercing line pattern happened right under the trend line.
I believe we should look for bearish positions.
Hi traders,
I am hoping to see a clean Bollinger Band spike for a reversal to the downside. If it does not happen, then I will anticipate a trade once the support below breaks. Let's see how the chart develops. We will very likely see an RSI Divergence as well.
(This is not a trade recommendation!)
If you look at the monthly chart of the NZDCAD Forex pair, you will see that is has been on a uptrend since it's opening. However, you could also clearly see that it cannot penetrate above the levels of the monthly (major) resistance. With the continuous failure to break above, a possible trend reversal (on monthly level) may be taking place -- the bears are...
