NZDCAD (NEWZEALAND/CANADIAN DOLLAR) MARKET ANALYSIS

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 Hello traders, I hope you're all well and on the grind as the markets never sleep. Into the NZDCAD chart, price rallied to a major daily chart supply zone at 0.87675 & 0.87013 which is the origin of the previous drop to the major daily demand zone at 0.77338 & 0.76680. Price has filled the major daily range from the major daily supply to the major daily demand zone and back to the major daily supply. Price rallied into supply and faked out a break of supply on H1 but on H4 and the daily chart price formed a strong rejection wick with candle close inside supply followed by a slight drop away from supply showing a potential reversal. 
Took sell entries during London session at 0.87273 with SL at 0.87700. Setup taken is a rally base drop, a reversal setup and my target is at the 1st daily low at 0.83500.












Price dropped 100 pips by a constant push away from supply to the 1st H4 low at 0.86360. Price failed to break the H4 low and instead rallied back to supply and back to my entry to accumulate more sell orders that would give price the momentum to drop lower hence closing the previous market week inside supply. Markets opened this week inside supply, failed to take out the the H1 & H4 high inside supply at 0.87800 and formed a rejection wick followed by a drop away from supply with candle closes below supply confirming the bearish sentiment. Price has dropped 100 pips again back to the H4 low at 0.86360. I anticipate price to take out the H4 low and form a lower low to confirm a shift in market structure to bearish as this is a possible swing trade and my target is at the 1st daily low at 0.83500.















Price gained momentum yesterday during NY session into Asian session and eventually took out the H4 low at 0.86360 and dropped lower forming a lower low at 0.85870 confirming a shift in market structure to bearish. Price gained more bearish momentum today during NY session after the Canadian CPI report release hence dropping lower to the next H4 low at 0.85580. Price has filled the 1st minor H1 & H4 range to the H4 low and still showing more bearish potential as I anticipate price to drop back to the H4 & daily demand zone at 0.83550 & 0.83041 to fill the major H4 & daily range.





















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