NZDCAD didn't manage to trigger our short position as it found support right at the SHS neckline. The pair is now flirting with a major resistance level around 0.9070, with a third attempt to break above that level. A failure to break above could send the pair down again to the lower 0.89xx levels. Let's wait for the daily close and see whether a short is possible in the near-term.
Head and Shoulders patterns with multiple right shoulders are also a valid pattern to trade. It seems that a second right shoulder is about to form.
Head and Shoulders patterns with multiple right shoulders are also a valid pattern to trade. It seems that a second right shoulder is about to form.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.