ggcforex

NZDCAD-Stalking TrendChange- Short

Short
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
1
Without factoring OPEC/Oil issues, pure technical analysis of the the NZDCAD indicates on the weekly; that this pair is ready to rollover- to the short side. Price Efficiency Factor indicator has turned downward on weekly 2 days in a row. This pair has not turned short on the weekly since April 2016.

The daily chart shows price entering into a range on the ( MAADX- Moving averages and ADX); however momentum has already turned to the downside for this pair on the daily as well. So I will be monitoring a possible long term short trade based on the following: 1) Turn of MAADX to red on the daily chart, 2) A sustained break of support at 0.92811. In the short term, a break of current support at 0.94003 will accelerate this move. Price can drop to as low as 0.9049 on a fall through.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.