munyaelliott
Long

LONG POSITION ON NZD/CAD

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Price action is currently in a bearish trend and prices are expected to turn when they hit the ascending trendline , which is in confluence with the support zone (marked in green). The descending trendline also shows that this pair making a triangle pattern (price squeeze). i would expect to take a long position when the stochastic oscillator hits the 20-zone as it is currently overbought, and when the price just manages to escape gthe lower Bollinger band

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