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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.89571, 0.89728, 0.89850.

Key Support Levels: 0.89256, 0.89021, 0.88811.

15-Mins Chart:

The price on the higher time frame failed to break the support level around the 0.89254 CAD mark by leaving a double bottom pattern. We expect the market to continue its main direction to the upside toward the next key resistance level.

NZD/CAD Medium-Term Trend: Bullish

5-Mins Chart:

On the lower time frame, the price succeeded to break the bullish flag formation to the upside after finding buyers around the 50% Fibonacci retracement level. we expect further movement to the upside but before that a lower correction could be posted to the highlighted zone.

Signal Idea:

Sell Limit Order @ 0.89213

TP 1 @ 0.89564

TP 2 @ 0.89728

Stop Loss @ 0.89038

Trade Safely 🙂

In many cases we manually use market orders instead of pending orders to trade the trading ideas we send you. This is higher risk, and you can decide if it suits your trading style.

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

One comment

  1. Hello…… confused with this signal. Is it bullish or bearish….???

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