Bearish NZDCAD - 16 September 2024

EURUSD Forex

NZDCAD

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 4 Hour time frame chart supports NZDCAD Bearish bias. A break of 0.83220 will support the fall towards the target of 0.82605 the break of 0.82605 would push the price to 0.82195.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 0.82976
Support S1: 0.82953, S2: 0.82936 , S3: 0.82913
Resistance R1: 0.82993 , R2: 0.83016 , R3: 0.83033

Summary

Instrument :

NZDCAD

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

78%

Entry Level :

0.83220

Activation Time :

2024-09-09 09:00

Age :

33 Bars

Progress :

22%

Close Time :

2024-09-16 17:00

Time Frame :

4 Hour

Status :

Closed

CHART ANALYSIS

MORE SIGNALS

There are no signals right now

Descending Triangle

A descending triangle is a bearish chart pattern used in technical analysis that is created by drawing one trend line that connects a series of lower highs and a second horizontal trend line that connects a series of lows. a descending triangle can be either bearish or bullish. Traditionally, a regular descending triangle pattern is considered to be a bearish chart pattern. However, a descending triangle pattern can also be bullish.