28.04.202112:09 Forex Analysis & Reviews: Daily Video Analysis: NZDCAD bullish breakout, potential for further upside!

loader

Today we take a look at NZDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price has just seen a bullish breakout from the descending trendline resistance-turned-support,. We could see a bounce at buy entry, in line with our horizontal pullback support, and further upside towards our take profit, in line with 61.8% Fibonacci retracement. Stochastics is also reacting at the lower support level where it has bounced from before.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Show more
Can't speak right now?
Ask your question in the chat.