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NZD/CAD Potential Upward Movement

NZD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 0.90566, 0.91112, 0.91120.

Key Support Levels: 0.90021, 0.89356, 0.88545.

Daily Chart:

The price on the higher time frame is in a clear upward movement where a series of higher highs and lows has been posted. As we can see from the screenshot the market is stuck above a strong support around the 0.90021 CAD mark. This could lead to a further movement to the upside in the coming hours.

NZD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is about to post a correction count where an accumulation phase is about to be broken to the upside. Higher lows along with bars that has long wicks to the downside shows that the market will rally soon toward the next key level.

Signal Idea:

Buy Limit Order @ 0.90036

TP 1 @ 0.90555

TP 2 @ 0.91112

Stop Loss @ 0.89817

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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