Breaking News

NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.68581, 0.69169, 0.69583.

Key Support Levels: 0.67875, 0.67414, 0.67000.

Daily Time Frame:

The price on the higher time frame failed to continue its downward movement where it bounced to the upside around the 0.67500 CAD mark. An inverse head and shoulders is being formed signaling that the market is about to reverse.

NZD/CAD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the price is bouncing inside a bullish flag where we expect a breakout to the upside since the buyers took control of the market and this is shown by the big bodied bullish bars. A lower correction could be seen before a new bullish impulsive wave.

Signal Idea:

Buy Limit Order @ 0.67883

TP 1 @ 0.68547

TP 2 @ 0.69169

Stop Loss @ 0.67551

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.

2 comments

  1. hi mate, im not sure if I got it right but I’ve checked the Trading view right after i saw this post. The pricing of NZDCAD there is around .86400 – .86500 but on your image, its around .67900.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!