NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.88854, 0.89418, 0.89884.
Key Support Levels: 0.88374, 0.88050, 0.87791.
Daily Time Frame:
The price on the higher time frame failed to continue its move downward below the 0.88374 CAD mark where it posted an engulfing bullish pattern which led to a reversal and a move to the upside. We expect further movement to the upside toward the next key resistance level.
NZD/CAD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price is traded inside a bullish flag pattern where we expect a breakout to the upside. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 0.88545
TP 1 @ 0.89029
TP 2 @ 0.89418
Stop Loss @ 0.88430
Trade Safely 🙂