NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.87751, 0.88136, 0.89000.
Key Support Levels: 0.87059, 0.86870, 0.86705.
Daily Time Frame:
The price on the higher time frame the market failed to continue its move to the downside where an engulfing bullish pattern has been posted near the strong support around the 0.87059 CAD mark. This move could lead to a reversal and a move upward toward the next key resistance level.
NZD/CAD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the market succeeded to break the bullish flag formation to the upside by the help of the double bottom. The price is posting higher highs and lows where we have a seen a correction to the 61.80 % Fibonacci retracement. A slight lower correction could be seen before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 0.87101
TP 1 @ 0.87737
TP 2 @ 0.88136
Stop Loss @ 0.86786
Trade Safely 🙂