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baterion02

NZDCAD - Bearish Signs - Swing Opportunity

Short
New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
baterion02  
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Trend Analysis Support and Resistance Fibonacci Divergence resistancerejection Fibonacci Extension
7
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trendanalysis supportandresistance fibonacci divergence resistancerejection fibonacciextension
Hello everyone,

The NZDCAD shows multiple bearish signs:

- Rejection on 1M resistance level
- Current price tested 1W upper channel line and rejected
- Bearish divergence on 4H using RSI
- Fibonacci Extension Golden Ratio reached on 1.61

Maybe there's a very good opportunity to open short on current price 0.8716, using as TP 0.8523 (strong 4H support near from 1M support on 0.8535).

Good luck everyone!
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