NZDCAD H4 analysis
2020-01-05 22:42:30
we have three clues showing a potential reversal on NZDCAD
1- Broken Channel in blue
2- Divergence on MACD in red
3- Resistance area 0.86 - 0.87
a potential Head and Shoulders pattern is forming. Let's see if price will respect our analysis by forming a lower high to confirm the trend reversal which would also be considered as our right shoulder.
our entry would be a momentum candle close below our purple neckline.
and as usual, we target a 1/2 risk/reward ratio
Good Luck!