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ThinkingAntsOk

NZD/CAD Time for a Retracement by ThinkingAntsOk

New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
ThinkingAntsOk  
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Trend Analysis Support and Resistance Multiple Time Frame Analysis NZD CAD NZDCAD analysis setup Bullish Patterns Bearish Patterns
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trendanalysis supportandresistance mtfa nzd cad nzdcad analysis setup bullish bearish
🔸 4H CHART EXPLANATION:
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🔸 Price broke the Descending Trendline and made a strong upside move.
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🔸 Now, it is facing the Resistance Zone.
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🔸 We are waiting for a definition here. If price breaks to the upside, then the target would be the Descending Trendline, and, if price bounces, then the target zone is the Support Zone.
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🔸 Will look for a lower timeframe setup when the direction is clear.

🔸 DAILY CHART ANALYSIS:

snapshot

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