NZD/CAD is melting away to the downside as projected. Bears are in control with price riding towards a daily W-formation’s structure. Further to the prior session’s analysis, NZD/CAD Price Analysis: One for the bear’s watchlist, the cross has indeed moved in accordance with the forecast and trading plan. The following recaps the bearish thesis and brings us up to date with the live market price action and progress of the trade. Prior analysis As illustrated in the above daily charts from the prior session, the price has formed a W-formation. The thesis is that following an impulse, a correction can be expected. When a W-formation has formed, the expectations are for a re-test of the neckline. Using a lower time frame to find an optimal entry, the neckline can be targetted. In the prior session, it was explained that the 1-hour chart should be monitored for bearish conditions. Prior 1-hour chart analysis Live market, breakeven achieved FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Analysis: BTC bears flirt with 50-DMA, monthly support line FX Street 1 year NZD/CAD is melting away to the downside as projected. Bears are in control with price riding towards a daily W-formation's structure. Further to the prior session's analysis, NZD/CAD Price Analysis: One for the bear's watchlist, the cross has indeed moved in accordance with the forecast and trading plan. The following recaps the bearish thesis and brings us up to date with the live market price action and progress of the trade. Prior analysis As illustrated in the above daily charts from the prior session, the price has formed a W-formation. The thesis is that following an impulse, a correction can be… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
