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MujkanovicFX

NZDCAD Buy Setup: H.Support, Divergence and Momentum

Long
New Zealand Dollar/Canadian Dollar (FX:NZDCAD)  
MujkanovicFX  
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis NZD CAD NZDCAD nzdcadlong support buysetup signal buysignal
3
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trendanalysis chartpattern beyondta nzd cad nzdcad nzdcadlong support buysetup signal buysignal
NZDCAD reached a horizontal support level, near the lowest level of 2019. A strong bullish candle is forming, and a bullish view is also confirmed by a bullish divergence between the price and the MACD.

Furthermore, the pair is forming a bullish wedge pattern with the current fifth having a high probability of breaking above the upper wedge line.

Idee correlate

MujkanovicFX
NZDCAD Long - Watch out for a bullish wedge breakout
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