NZDCAD looks very interesting. From September to December 2015 price moved in an uptrend. In the end of December correction occurred which continues till today. Downward movement took a shape of ABC simple correction and particular points can be marked already. There isn’t perfect equal A = C, but other elements should help with further upward movement.

Rebound occurs at trend line, which begins at August’s low. Additionally this level coincides with support. Last three days we saw dynamic rebound thus it is likely that some correction may occur. However in a medium term price should test at least high from December 2015.

Try FX GROW. Spread from 0.00001 also STP/ECN execution, full transparency. FxGrow launches new feature packed Website with technical analysis and economic calendar.

Time-frame D1

NZDCAD-D1

Error, group does not exist! Check your syntax! (ID: 3)
SHARE
Previous articleGBPUSD – Inside upward channel
Next articleUSD/CHF (H4): Inside bullish channel
Piotr Drabik
Author of worldtrader.pl blog and big supporter of technical analysis. Active medium-term trader. In his analysis uses classical charts, price action as well as harmonic patterns and Elliott Waves. In trading he always tries to take into account two points of market's view, in accordance with the principle that each transaction may be attractive both for the demand and supply traders.

RELATED ARTICLESMORE FROM AUTHOR