NZDCAD - Potential Short Soon
After posting this pair recently, as the week had played out I quickly noticed this channel/flag forming.
We have a key area of resistance at both 0.87000 and 0.884000. Currently we are range bound being capped by the 0.50% fib level at 0.87000. if we break this level I will look for price action around 0.884000 as we have many confluences for a short here.
Alternatively we could reverse from this current area of resistance. I will be looking for a break of the channel for an entry from 0.87000.
We have a key area of resistance at both 0.87000 and 0.884000. Currently we are range bound being capped by the 0.50% fib level at 0.87000. if we break this level I will look for price action around 0.884000 as we have many confluences for a short here.
Alternatively we could reverse from this current area of resistance. I will be looking for a break of the channel for an entry from 0.87000.
