Breaking News

NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.8748, 0.8785, 0.8807

Key Support Levels: 0.8693, 0.8667, 0.8638

Daily Chart:

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

1-hour Chart:

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.

Signal Idea:

Buy Limit Order @ 0.8713

TP 1 @ 0.8748

TP 2 @ 0.8785

Stop Loss @ 0.8702

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.

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Your email address will not be published.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!