Trade idea on NZDCAD
Starting from the daily chart: Price is trending up and retested support +/- 0.8800 which coincided with the 50 ema.
Looking at a lower timeframe, the 4hr, you'll see price broke through a resistance level and is now retesting this zone. This zone now becomes support where we might see a bounce higher.
Possible entries could be at a fibonacce retracement (50%-61.8% retracement) or look on a 1hr timeframe price holds this level and is ready to move higher.
Looking at a lower timeframe, the 4hr, you'll see price broke through a resistance level and is now retesting this zone. This zone now becomes support where we might see a bounce higher.
Possible entries could be at a fibonacce retracement (50%-61.8% retracement) or look on a 1hr timeframe price holds this level and is ready to move higher.
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