Hello Fam,
NZDCAD
has just tapped into a strong daily supply #orderblock which led to a mini selloff in price about a month ago. I expect that orders are still pending in the daily order block or market-makers would like to mitigate some orders. With this at play, I expect a selloff in the 1hour timeframe.
Although I have a longer-term bullish bias on the pair based on the weekly and monthly timeframes, we would be taking each move as they come.
Here are my other analysis on
AUDJPY
and
CADJPY
AUDJPY
CADJPY
Cheers,
David
NZDCAD
has just tapped into a strong daily supply #orderblock which led to a mini selloff in price about a month ago. I expect that orders are still pending in the daily order block or market-makers would like to mitigate some orders. With this at play, I expect a selloff in the 1hour timeframe. Although I have a longer-term bullish bias on the pair based on the weekly and monthly timeframes, we would be taking each move as they come.
Here are my other analysis on
AUDJPY
and
CADJPY
AUDJPY
CADJPY
Cheers,
David
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