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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.89328, 0.89969, 0.90544.

Key Support Levels: 0.88505, 0.86915, 0.86367.

Daily Chart:

The price on the higher time frame failed to break a strong support level around the 0.86915 mark and posted a bullish engulfing pattern which led to a reversal and a move higher. The market is posting higher highs and lows and succeeded to break the daily resistance (now support) around the 0.88505 level.

NZD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is traded inside a bullish flag formation where we expect a breakout to the upside. A lower correction could be seen to the highlighted zone before a new bullish impulsive wave toward the next key level.

Signal Idea:

Buy Limit Order @ 0.88894

TP 1 @ 0.89316

TP 2 @ 0.89969

Stop Loss @ 0.88755

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.

10 comments

  1. how to join vip forex signal channel?

  2. Man, this would’ve been an awesome trade! Hit SL then went our way.

  3. Should we use it for mt4

  4. Christ SENAKPON MIGAN

    I’m using admiral market. One minute after the signal was sent I couldn’t place it cause price was not accepted (Place order button get dis activated when I put price) I just buy instant market cause price where close to open price. Can you explain me how to do next time ?

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