NZD/CAD Possible Sell

29 Ara 2024

The NZD/CAD pair remains under pressure, currently hovering near the 0.8100 level, with clear signs of continued weakness. Here’s why the bearish sentiment prevails:

1️⃣ Weak Supply Zone: The pair is struggling to hold above the supply area, signaling a lack of buying momentum.
2️⃣ Bearish Structure: The market has been forming consistent lower highs and lower lows, confirming sellers are firmly in control.
3️⃣ Momentum Favors Bears: Indicators show strong bearish momentum, with no signs of reversal or bullish divergence.
4️⃣ Fundamental Factors: NZD faces additional pressure from a risk-off market environment and CAD strength driven by oil prices and broader market stability.

💡 Trade Plan:

🟢 Take Profit 1 - 0.80378
🟢 Take Profit 2 - 0.79516
🟢 Take Profit 3 - 0.78626
🚫 Stop Loss - 0.81942

If you don't know how to trade with multiple Take Profit targets, comment below

1 Oca

Not

Take Profit 1 - Reached