MujkanovicFX
Long

NZDCAD buy opportunity, SHS forming

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
The NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern.

A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup.

This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold.

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