nzdcadh4.png
Time Frame:4H
The NZD against CAD has lot of bullish momentum sso far and it's still in strength , but cci does not agree with it's strength , so having any trade , till break out , not b wise iea , because channel is very narrow
nzdcaddaily.png
Time frame:Daily
making a new higher in last week we see that market can not kept it , because the week closing was negative and after market open today market still giving it respect but there can be retracement before the eextension levels can be execute , if trendlines retested only that we can be interested to see a new level in the market
The daily chart shows that the price NZDCAD signaled upward pressure by touching the previous resistance level at 0.83273. Breaking the resistance level at 0.84281 the pair will be able to move further to the positive zone to approximately 0.85954. Probable for the pair around 0.83273.
From the H4 chart still shown a downtrend channel there, and a rebounce from the top line would be a good reversal signal. But if the price could breakout the channel then the price will be potential to reach FE 138.2 or 161.8 there. At majority, bearish is still preferable for next week trades.
As we can see on this hourly chart, the uptrend channel still active and valid there. Also the price is turns back convergence with the channel now. So, i expect nzd/cad will continue the bullish rally again after success breakout on fibo 61.8%. In case the price breakout the channel then we need to exit from buying position.
The uptrend channel still active and valid on H4 chart, then a rebounce from bottom line is good enough reason to take long position on next week trades. I expect it will arise to reach up to fibo 61.8 at 0.8569 or fibo 100 at 0.8631. Exit from buying position after the price breakout fibo 0.0 there.
On this D1 chart, the uptrend channel still performed well here and make the price potential to arise and make a re-test on fibo 0.0 at 0.8632 again. At other hand, a breakout of fibo 38.2 at 0.8447 will open a way for further corrections trend. Please notice it.
Today, the pair formed a new high, and after the divergence of the couple began to AO adjusted the level of 0.8584. The fall has stopped 61% fibo level, which was formed from a minimum uplink. If the price bounces off the support line of the channel from 61 + or 50% fibo buy a pair of goals from 0.8584. On the rebound from a maximum of a couple of sell and buy after breaking the resistance line with the objectives of the channel. After breaking through the support line of the channel pair to sell census minimum.
The downtrend channel is still active and valid on this hourly chart and after rebounced from the bottom line, the price is moving divergence with the channel. So, a re-breakout of fibo 38.2 @0.8535 will make this pair fall again. In case the price can breakout fibo 100 and trend channel then we need to exit from selling position.
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