Following a decisive break of the previous ascending trendline, NZD/CAD has shifted its local market structure to bearish. We are currently observing a corrective move back into a significant Supply Zone (0.79600 - 0.79650). This area aligns perfectly with the 0.236 - 0.382 Fibonacci retracement levels, acting as a primary point of interest (POI) for institutional sellers to reload.
Technical Breakdown
Market Structure: Shift from Bullish to Bearish on the Intraday (30m) timeframe.
Supply Zone: The grey-shaded block represents a previous consolidation area that acted as the catalyst for the recent impulsive drop.
Fibonacci Confluence: The projected retracement aims for the 0.382 level, providing a high-probability entry for the next leg down.
Targeting: Looking for a continuation toward the 1.618 Extension (0.78973), which aligns with major structural support.
The Execution Plan
Entry Trigger: Look for price rejection (wicking or bearish engulfing) within the 0.79620 zone.
Invalidation (SL): A sustained 30m candle close above 0.79771 (recent swing high) invalidates the bearish bias.
Take Profit (TP): Primary target at 0.79280 (1.0 Fib), with runners held for the 0.78970 extension.
Technical Breakdown
Market Structure: Shift from Bullish to Bearish on the Intraday (30m) timeframe.
Supply Zone: The grey-shaded block represents a previous consolidation area that acted as the catalyst for the recent impulsive drop.
Fibonacci Confluence: The projected retracement aims for the 0.382 level, providing a high-probability entry for the next leg down.
Targeting: Looking for a continuation toward the 1.618 Extension (0.78973), which aligns with major structural support.
The Execution Plan
Entry Trigger: Look for price rejection (wicking or bearish engulfing) within the 0.79620 zone.
Invalidation (SL): A sustained 30m candle close above 0.79771 (recent swing high) invalidates the bearish bias.
Take Profit (TP): Primary target at 0.79280 (1.0 Fib), with runners held for the 0.78970 extension.
منشورات ذات صلة
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.