NZDCAD / H1 / Daily Forex Technical Analysis / 10.4.2019

4 oct 2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is October 4th, 2019 and we will be taking a look at the New Zealand Dollar against the Canadian Dollar. Looking at the 1 hour time frame we are looking for price action to possibly pullback into the .8427 area and retest this area of resistance. If we do get a pull back and price action doesn't S/R flip and turn bullish at the .8427 region we will be looking for an optimal entry short. Entry for a Short position near the .84276 resistance area, with a Stop Loss near the .84468, and a target profit level area of .83800 for what can be a profitable trade with a 2.48 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!