Trade Idea: NZDCAD – ST Corrective Structure Breaking | Sept 10

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Chris Capre’s current live open price action and ichimoku trades: Silver, NZDJPY

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NZDCAD – ST Corrective Structure Failing, Potential Bearish Signal (1hr chart)

Price Action Context 

After gaining since the end of August this year, the NZDCAD has stalled and broken below the key support zone in a corrective structure between 8490 and 8440. 

nzdcad corrective structure forex

Trending Analysis

ST we’re bearish while below the 8490 highs and corrective structure bottom. IMO a move towards 8400 and 8350 seems the line of least resistance.

Key Support & Resistance Levels

R: 8440, 8490

S: 8400, 8350

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