Good evening from the UK. Its been a while since I've posted a trade on NZDCAD. Reason being the price was moving sideways for a considerable amount of time. 0.9100 was acting as a Physiological key level which was rejected a break above for around 2 months. the previous restiance has beeb broken and is now acting as a support barrier for the pair.
We have now spiralled into a uptrend channel. creating good swings higher highs and high lows. before a touch of my trendily to the upside for a first touch i have some major barrier in the way. The blue Horizontal line at 0.9250 is a monthly key level which should hold price up in the short term. The week closure for NZDCAD was very bullish therefore the bulls may not be finishing yet however I do see price pushing a few pips higher and being "overbought and retrace a good 80 pips minimum before any upside momentum.
Guys after 1 week of good research and understanding I've done a lot of back testing and implemented the RSI indicator into my trading. Im not going to tell you its main functions thats for you to find out. You finding out will be beneficial for your trading growth and development if new to the market. RSI indicator signals a sense of the pair being exhausted, oversold and expecting a correcting to the downside.
Lets see how this goes. Have a great week of trading.
We have now spiralled into a uptrend channel. creating good swings higher highs and high lows. before a touch of my trendily to the upside for a first touch i have some major barrier in the way. The blue Horizontal line at 0.9250 is a monthly key level which should hold price up in the short term. The week closure for NZDCAD was very bullish therefore the bulls may not be finishing yet however I do see price pushing a few pips higher and being "overbought and retrace a good 80 pips minimum before any upside momentum.
Guys after 1 week of good research and understanding I've done a lot of back testing and implemented the RSI indicator into my trading. Im not going to tell you its main functions thats for you to find out. You finding out will be beneficial for your trading growth and development if new to the market. RSI indicator signals a sense of the pair being exhausted, oversold and expecting a correcting to the downside.
Lets see how this goes. Have a great week of trading.
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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.