NZDCAD: May go up
I make an ABCD pattern and it shows that the price could go up soon.
Although this is not a really precise ABCD pattern, we have other signals to support our prediction.
The price broke out from the lower band of the Bollinger Band, which means the price could meet pressure here and the RSI is trying to recover from the low area.
The MACD is still in a downward trend, however, this is a lagging indicator, so this downward trend could last until the turning point shows up.
Let’s expect the price to go up.
Although this is not a really precise ABCD pattern, we have other signals to support our prediction.
The price broke out from the lower band of the Bollinger Band, which means the price could meet pressure here and the RSI is trying to recover from the low area.
The MACD is still in a downward trend, however, this is a lagging indicator, so this downward trend could last until the turning point shows up.
Let’s expect the price to go up.
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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.