NZDCAD analysis
NZDCAD on a strong and healthy downtrend from D1, price had tested this line 4 times without a breakout. Price Coming back to test the trend again might trigger selling pressure, on Friday, we notice momentum shift from being bullish to bearish.
Entry.
A market execution is okay, and a sell limit @0.86238, since we're not expecting the price to break the previous high.
Rentry is possible at every lower high after downtrend is confirmed with market structure.
Catalyst
Price might bounce up from the support from Dec 21, 2022 @ 0.85620, pushing up to give a structure more like inverted head and shoulder, although this level has been taken out as the last low from D1 is @0.83503.
Entry.
A market execution is okay, and a sell limit @0.86238, since we're not expecting the price to break the previous high.
Rentry is possible at every lower high after downtrend is confirmed with market structure.
Catalyst
Price might bounce up from the support from Dec 21, 2022 @ 0.85620, pushing up to give a structure more like inverted head and shoulder, although this level has been taken out as the last low from D1 is @0.83503.
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