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.
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Publicações relacionadas
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.