• Vasily Trader

NZDCAD: Key Level Ahead! Your Plan to Short:

NZDCAD is trading within a wide horizontal trading range on a daily time frame.

This night its resistance was reached.

0.884 - 0.887 is our potential reversal zone.

To catch a bearish move from that, follow a rising parallel channel on 1H.

Wait for its bearish breakout as a confirmation.

First goal will be 0.877.

Stop will be above the last high within the channel.

In case of a bullish breakout of the underlined zone, a bullish continuation will be expected.