NZDCAD / H4 / Daily Forex Technical Analysis / 7.16.2019

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Hello Traders, welcome to the Daily Forex technical analysis. Today is July 16th, 2019 and we will be taking a look at the New Zealand Dollar against the Canadian Dollar. Looking at the 4 hour time frame we are looking for price action to lose steam heading into the .8797 resistance area. If price action fails to break above this local top we will be looking for profitable conditions to set up for a short entry. Entry for a Short position near the .87960 resistance area, with a Stop Loss near the .88205, for what can be a profitable trade with a 2.47 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!