Nzdcadreversal
NZDCAD Watch Out For Bollinger Band Spike And Support BreakHi traders,
I am hoping to see a clean Bollinger Band spike for a reversal to the downside. If it does not happen, then I will anticipate a trade once the support below breaks. Let's see how the chart develops. We will very likely see an RSI Divergence as well.
(This is not a trade recommendation!)
NZDCAD's ascending monthly trendline got stuck on monthly resistIf you look at the monthly chart of the NZDCAD Forex pair, you will see that is has been on a uptrend since it's opening. However, you could also clearly see that it cannot penetrate above the levels of the monthly (major) resistance. With the continuous failure to break above, a possible trend reversal (on monthly level) may be taking place -- the bears are preparing for a major comeback!