VIDEO ANALYSIS: NZDCAD FALSE BREAKOUT
In this video update, we take a look at the NZDCAD as price failed to break out of the resistance trendline.
Typically, when the market falsely breaks out of consolidation we see a move in the same direction.
The weekly chart finished has as a bearish engulfing candle and we could see price continue lower. Looking
to the 4hr timeframe, we can see price consolidating at a key demand zone, look for the market to break and
close below before further downside.
Typically, when the market falsely breaks out of consolidation we see a move in the same direction.
The weekly chart finished has as a bearish engulfing candle and we could see price continue lower. Looking
to the 4hr timeframe, we can see price consolidating at a key demand zone, look for the market to break and
close below before further downside.
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