NZDCAD
Updated
Look out for this when trading NZDCAD now.
A thread
A thread
Note
On the daily, the confirmed down trending line accompanied by a fake out has been broken and retested twice forming a double bottom and its momentum has started pushing up. So at this view, a supposed new trend is still yet to begin and it would have been a good move to join the move as spotted early.
Could there be a barriers? Let's check higher timeframes.
Note
On the weekly timeframe, the market is clearly ranging although it might still make that move to retest its previous resistance and it could be favorable to go long mid-term with good risk management too. To be on a safer side, you could go to lower timeframes and look for scalp trades till to breaks out of its weekly range.
I strongly insist you DYOR and watch out for news as it would also affect the market too.
Note
So that is the end of my analysis. I usually do this on my telegram channel to help fellow traders take appropriate decisions in the market. Link to my channel is t.me/markettfanalysis.Don’t forget to also leave a comment below. Thank you.
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