Scenario 1 (Main idea) : As you can see after the uptrend, price has formed a bullish flag so we could most probably see a continuation towards the upside. We could expect price to rise up towards the 1.92000 area.
Scenario 2: The market could decide that price will not continue its uptrend and will reverse towards the 1.80810 area.
This is my first post...
On the daily, NZDCAD made a large retracement to the upside within the last month and it seems as if it is now time for the continuation of the trend to the downside. Using Fibonacci, we can clearly see price overreacting to the 61.8% level by leaving a large wick which is a good indicator that price may start going south. I expect this to last around 2 months and...
