NZDCAD DAILY 11/9/19
NCAD Short Idea
Higher time-frame analysis suggests a bearish continuation as that has been the overall trend
Current price action has rejected the daily 38.2% fib level with a strong evening star pattern and extreme exhaustion but is now sitting at a support zone around 0.83600
We will look for a significant break of this zone followed by a retest with good bearish confirmation before entering short
Looking to target toward the monthly support & 0% fib level around 0.82500 followed by a second target down to the -27.2% & weekly support near 0.80250
Higher time-frame analysis suggests a bearish continuation as that has been the overall trend
Current price action has rejected the daily 38.2% fib level with a strong evening star pattern and extreme exhaustion but is now sitting at a support zone around 0.83600
We will look for a significant break of this zone followed by a retest with good bearish confirmation before entering short
Looking to target toward the monthly support & 0% fib level around 0.82500 followed by a second target down to the -27.2% & weekly support near 0.80250
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