NZDCAD This MA squeeze giving a strong Buy Signal.
The NZDCAD pair has been trading within a long-term Channel Up pattern, currently sitting above bot the 1D MA50 (blue trend-line) and the 1D MA200 (orange trend-line). The upcoming squeeze of the two MA periods was last time a confirmation that the Bullish Leg that started would continue.
That rally peaked on June 12, just above the 1.236 Fibonacci extension. As a result, even though we are practically half-way into the current rally and the potential return is now less, we turn bullish on this pair, targeting 0.85650.
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That rally peaked on June 12, just above the 1.236 Fibonacci extension. As a result, even though we are practically half-way into the current rally and the potential return is now less, we turn bullish on this pair, targeting 0.85650.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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