NZDCAD currently shows a bearish butterfly pattern, which is a technical analysis pattern indicating a potential trend reversal.
The pattern has confirmed the D point, which is where the reversal is expected to occur, and NZDCAD has already made a reversal from this point.
The trend is now bearish, meaning that prices are expected to continue to fall.
NZDCAD is creating lower highs (LH) and lower lows (LL), which is a sign of a downtrend.
Also, the bearish divergence on the RSI can be seen as a confirmation of the bearish butterfly pattern and the possible reversal at the D point.
Traders may use this information to plan their trades and manage risk accordingly,
The pattern has confirmed the D point, which is where the reversal is expected to occur, and NZDCAD has already made a reversal from this point.
The trend is now bearish, meaning that prices are expected to continue to fall.
NZDCAD is creating lower highs (LH) and lower lows (LL), which is a sign of a downtrend.
Also, the bearish divergence on the RSI can be seen as a confirmation of the bearish butterfly pattern and the possible reversal at the D point.
Traders may use this information to plan their trades and manage risk accordingly,
Trade closed: target reached
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.
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.