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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.8747, 0.8786, 0.8800

Key Support Levels: 0.8689, 0.8635, 0.8600

Daily Chart:

The price was in a downtrend where it posted lower lows and highs before managing to reverse once it reached the 0.8635 USD mark. This led to a move to the upside where we expect a change in the direction of the main trend.

NZD/CAD Medium-Term Trend: Bullish

1-hour Chart:

On the lower time frame, the price succeeded to break the bearish channel to the upside. Now it is holding around a strong support where we expect a move to the upside all the way to our target profit which is 0.8747 USD level.

Signal Idea:

Buy Market Order @ 0.8708

TP 1 @ 0.8747

TP 2 @ 0.8786

Stop Loss @ 0.86896

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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