Awaiting for 1D break-out. Overall bearish: 1W Channel Down.

5 Sep 2018

NZDCAD is trading within a 1D Channel Down (MACD = -0.004, B/BP = -0.0015) that has however just made a Lower High (RSI = 48.054, Highs/Lows = 0.0000). If 0.87200 breaks then the underlying 1W Channel Down (RSI = 37.794, MACD = -0.010, STOCH = 21.859, ROC = -3.915) that has been dicating the bearish trend since March, will rise to price its own Lower High near 0.8900. That will be the ideal place to short (TP = 0.84500). On a different occasion (0.87200 doesn't break), continue shorting towards 0.84500.