FX:NZDCAD   New Zealand Dollar/Canadian Dollar
67 0 1
We have an upsloping channel here, which recently pushed the prices up from a key zone. The latest move beginning from August 2015 is seemingly an impulse going above the .5 Fib TL. If this bullish move manages to settle above the .5 Fib TL, thereby breaking out the old highs, it means the continuation of the validity of the channel.

The Stoch has shown weakness since the August 2011 top, characterized by a downsloping pitchfork . Now it tests UWL1. The breakout of this level may precede the breakout of the old highs in price. As an alternative scenario, a reaction by this level precede a price action going down to the key zone shown as two horizontal rods in the chart.

With the analysis of this pair, I completed my monthly technical analysis series on the major currencies . It is wise to trade those currencies among each other and not against a single base currency such as the US dollar0.00% . In other words, instead of trading the typical list of the major pairs, which are EURUSD0.38% , USDJPY-0.53% , GBPUSD0.38% , USDCHF-0.33% , AUDUSD0.50% , USDCAD0.02% and NZDUSD0.68% , I prefer to trade the following list: EURUSD0.38% , USDJPY-0.53% , EURCHF0.05% , GBPJPY-0.14% , GBPAUD-0.09% , CADCHF-0.22% , AUDNZD-0.08% , NZDCAD0.77% . As you might have noticed, each currency is quoted only twice in the list. This is a better option for diversification and to keep an eye on the all of the currencies . Of course, this doesn't mean that I don't trade any other major cross.

I hope my analyses will be helpful. I will continue with giving weekly and daily analyses for those pairs. Thank you in advance for your comments!

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