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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.84906, 0.85114, 0.85402.

Key Support Levels: 0.84668, 0.84334, 0.83954.

Daily Time Frame:

The price on the higher time frame succeeded to break the bearish trendline to the upside after finding buyers below the support level around the 0.84710 CAD mark. A series of higher higs and lows has been posting showing that we are in a clear uptrend.

NZD/CAD Medium-Term Trend: Bullish

1-Hr Time Frame:

On the lower time frame, the buyers to break the bearish trend line to the upside after a fake out which led to a move higher. A lower correction could be seen to the support level to bring back liquidity before a new bullish impulsive wave.

Buy Limit Order @ 0.84670

TP 1 @ 0.84893

TP 2 @ 0.85111

Stop Loss @ 0.84450

Trade Safely 🙂

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.

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