NZDCAD is moving ahead with its retracement after falling for many days... we may price moving higher on break above current resistance.. Long on breakout and retest..
This looks like the final change in direction from March and move up based on the daily chart. It broke though the long term resistance trend line on the daily chart and is showing good divergence on the Stocastic and MACD for the daily. The shorter term trend is probably down to test the .825 or so support area and possible make a double bottom before heading up again. Momentum on this last move up is the strongest in a while lending credence to a more sustained positive movement once it begins in earnest.
Ibsontrader94
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DOESNT tthis look like an accumulation ?
AariTech
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@Ibsontrader94, Yes. before potential move higher... NZDCAD weekly candle closed red , but because of better fundamental news on friday.. and has not affected much of trend... are a bottom of range in weekly chart from where price moved higher many times , we are waiting for close higher for confirmation of potential long setup .... check weekly also... use this chart analysis as only reference not trading advice :)