NZD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 0.89328, 0.89969, 0.90544.
Key Support Levels: 0.88505, 0.86915, 0.86367.
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
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.
Buy Limit Order @ 0.88894
TP 1 @ 0.89316
TP 2 @ 0.89969
Stop Loss @ 0.88755
Trade Safely 🙂