PAIR IN FOCUS: NZDCAD
BIAS: BULLISH / LONG
As stated on the chart, price broke under the zone and had retraced strongly, breaking back above the previously broken zone. This rejection shows that price does not really want to head lower.
In another perspective, price could also be forming an inverse H&S pattern as well.
With market shifting back into risk-on sentiment, NZD could continue to strengthen, which would mean an upward move for NZDCAD.
BIAS: BULLISH / LONG
As stated on the chart, price broke under the zone and had retraced strongly, breaking back above the previously broken zone. This rejection shows that price does not really want to head lower.
In another perspective, price could also be forming an inverse H&S pattern as well.
With market shifting back into risk-on sentiment, NZD could continue to strengthen, which would mean an upward move for NZDCAD.
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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.