Bearish NZDCAD - 21 November 2024

EURUSD Forex

NZDCAD

Bearish Closed

Charts by TradingView

A Price Action Descending Triangle pattern formation on the 5 Min time frame chart supports NZDCAD Bearish bias. A break of 0.82000 will support the fall towards the target of 0.81940 the break of 0.81940 would push the price to 0.81900.

SUPPORT AND RESISTANCE LEVELS

Pivot Point 0.8193
Support S1: 0.8192, S2: 0.8191 , S3: 0.819
Resistance R1: 0.8194 , R2: 0.8195 , R3: 0.8196

Brokers

Open account

Summary

Instrument :

NZDCAD

Direction :

Bearish

Pattern Name :

Descending Triangle

Probability :

54%

Entry Level :

0.82000

Activation Time :

2024-11-21 05:40

Age :

11 Bars

Progress :

100%

Close Time :

2024-11-21 06:35

Time Frame :

5 Min

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.