NZDCAD - monitor price action CLOSELY!
Weekly: formed an overextended W formation, currently in correction stages with an ascending upwards channel.
Daily (bullish):
- MACD shows strong bullish momentum.
- approaching the trendline and resistance zone
- BB just retested the middle band
- Creating higher high and lows
- Have chances to break the trendline and resistance zone
4H:
- just made exact retracement at fibonacci 0.382 from previous high and lows
-currently approaching the key area.
- MACD tells upwards trend while bearish momentum started to shift
1h:
-MACD shows weak bullish momentum, and it's about to cross as well
- Just re-bounce at 200EMA
*What to do now? When to sell?*
- We shall monitor the price action closely in the key area since the overall trend is quite bullish!
- If the price broke above, I expect the breakout will be huge, so buy.
- If to sell, more confirmation will be needed to identify the short-term trend change
Daily (bullish):
- MACD shows strong bullish momentum.
- approaching the trendline and resistance zone
- BB just retested the middle band
- Creating higher high and lows
- Have chances to break the trendline and resistance zone
4H:
- just made exact retracement at fibonacci 0.382 from previous high and lows
-currently approaching the key area.
- MACD tells upwards trend while bearish momentum started to shift
1h:
-MACD shows weak bullish momentum, and it's about to cross as well
- Just re-bounce at 200EMA
*What to do now? When to sell?*
- We shall monitor the price action closely in the key area since the overall trend is quite bullish!
- If the price broke above, I expect the breakout will be huge, so buy.
- If to sell, more confirmation will be needed to identify the short-term trend change