NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.8748, 0.8785, 0.8807
Key Support Levels: 0.8693, 0.8667, 0.8638
The price on the higher time frame posted an engulfing bullish pattern around the strong support (0.8667 USD), which might lead to a reversal from a downward movement to an upward one. Let’s see what’s happening on the lower time frame to spot an opportunity to buy.
NZD/CAD Medium-Term Trend: Bullish
On the 1-hour time frame, the pair succeeded to break the bearish channel to the upside. The price now it is traded above the strong support around the 0.8712 USD mark. A lower correction might be seen to the support before a move upward toward the target profit.
Buy Limit Order @ 0.8713
TP 1 @ 0.8748
TP 2 @ 0.8785
Stop Loss @ 0.8702
Trade Safely 🙂