Hi there fellow traders! NZDCAD is looking pretty bullish for me. After a Bullish Cypher pattern was formed on our Daily Chart, I am expecting market to hit our first target, which is our 38.2% fib level. Moving onto a lower time frame, market managed to break out of this (resistance) trend line & we may have a (second) retest on it as support. This retest is on our Daily support and right on the 61.8% fib level. We may see market make another Higher High to complete an ABCD pattern. Let's see how it goes!
Trade active
It is important to protect profits since we have ran into a strong resistance level.Trade closed: target reached
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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.