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 🙂