NZD/CAD Time for a Retracement by ThinkingAntsOk
🔸 4H CHART EXPLANATION:
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🔸 Price broke the Descending Trendline and made a strong upside move.
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🔸 Now, it is facing the Resistance Zone.
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🔸 We are waiting for a definition here. If price breaks to the upside, then the target would be the Descending Trendline, and, if price bounces, then the target zone is the Support Zone.
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🔸 Will look for a lower timeframe setup when the direction is clear.
🔸 DAILY CHART ANALYSIS:
.
🔸 Price broke the Descending Trendline and made a strong upside move.
.
🔸 Now, it is facing the Resistance Zone.
.
🔸 We are waiting for a definition here. If price breaks to the upside, then the target would be the Descending Trendline, and, if price bounces, then the target zone is the Support Zone.
.
🔸 Will look for a lower timeframe setup when the direction is clear.
🔸 DAILY CHART ANALYSIS: