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EUR/CAD 1H Chart: Channel Down

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Mar 31, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    GBP/NZD 1H Chart: Channel Down Comment: At the beginning of the week GBP/NZD came close to the upper boundary of the falling wedge forming in the daily chart. As a result, the pair bounced off of 2.1240 and pierced through the five-week up-trend line, exposing the February low. Accordingly, we are bearish on the Sterling and expect the rate to keep falling within the descending channel. If both the weekly S2 at 2.0770 and the previous month’s minimum at 2.0630 fail to initiate a rally, during

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