NZDCAD been moving downward in an descending channel, a big and long one. Currently, price has reached the lower band of this channel. There is s possibility of a huge upward movement. First, the lower band should support and hold the price. Let's see what happens.
Note
Be careful, if you want to go long on NZDCAD, first wait until the price reaches above the green line. Otherwise, price can goes down even further.
Note
So, NZDCAD made a reversal and price came above the green line and reached its previous lowest low now acting as a resistance. If NZDCAD wants to go further up, first have to breaks this area. Let's see what happens.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.