NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.84613, 0.84699, 0.84828.
Key Support Levels: 0.84238, 0.84178, 0.84115.
1-Hr Time Frame:
The price on the higher time frame posted a double bottom pattern and moved to the upside where it succeeded to break the bearish trendline to the upside. The market as well managed to break a strong resistance line around the 0.84230 CAD mark which could lead to a further movement to the upside.
NZD/CAD Medium-Term Trend: Bullish
5-Mins Time Frame:
On the lower time frame, the buyers succeeded to break the bearish trend line as well where also we have seen a double bottom with a form of a higher low showing that the market is controlled by sellers. A lower correction could be seen before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 0.84265
TP 1 @ 0.84613
TP 2 @ 0.84699
Stop Loss @ 0.84092
Trade Safely 🙂