The NZDCAD currency pair yesterday formed an Outside Bar. After strong upward movement, it suggests at least possibility of a downward correction. This formation is strong enough that it falsely breaks the three previous candles and closes at a lower level than their closures.

Today the downward movement is continuing and the nearest target level will be the 50% abolition of previous upward movement (0.9337). Overcoming the area within 0.9315 would open the way to key support near 0.9230.

The above analysis was done on XM broker account who offers $30 on start!

Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)