Trade Setup: NZD/CAD Open For Further Upside

From earlier posts, EUR/NZD and AUD/NZD Trade setups reached full targets, while Palladium stopped out.

Trade Setup : NZD/CAD Broke Resistance And Ready to Rise

NZDCAD Trade Setup Daily Nov 25 — NZDCAD Trade Setup Daily Chart Nov 25

The NZD/CAD has just completed a rounding bottom following the breakout above its neckline and key resistance at 0.8495 area.

Meanwhile, the price has established a series of higher highs and higher lows since mid October low, and also taken its short to medium term falling trend line.

I am looking for further upside towards the next resistance at 0.8625 as a first target. Followed by the 200 days simple moving average also around the potential horizontal resistance at 0.8702.

Trade with care
Technician

Tags: NZD/CAD Trade Setups

Luay Afouneh (Technician)

Market Analyst

When I started to learn trading more than 10 years ago, I was extremely confused. I didn't know what to read and who to trust, given all the commercial material out there, which I believe account for the vast majority of the online educational material. I found my way through this and made my own research to have my personal conclusions, while continuing to learn. I always remember that feeling. I decided to provide free valuable and hardly gained content to people who need it.