Price retrace at key level waiting to forming PB and expecting to reach 0.83105
its a Elliot wave form so take the 2nd point entry, will get more profit.
Trading suggestion: . There is still a possibility of temporary retracement to suggested resistance line (0.8495). if so, traders can set orders based on Price Action and expect to reach short-term targets. Technical analysis: . NZDCAD is in a range bound and the beginning of downtrend is expected. . The price is below the 21-Day WEMA which acts as a...
Our pivot point is at 0.8507. Our preference: rebound towards 0.8562. Alternative scenario: the downside breakout of 0.8507 would call for 0.8489 and 0.8479. Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8532 and 0.8542).
Our pivot point is at 0.8507. Our preference: rebound towards 0.8562. Alternative scenario: the downside breakout of 0.8507 would call for 0.8489 and 0.8479. Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8532 and 0.8542).
Our pivot point is at 0.8507. Our preference: rebound towards 0.8562. Alternative scenario: the downside breakout of 0.8507 would call for 0.8489 and 0.8479. Comment: the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.8532 and 0.8542).
NZD CAD is bullish. Chart is shared for study purpose.