TAS
Long

NZDCAD small correction or jump up

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
107 4 12
Here's the chart that for some reason atracts crazy's. I'm looking at a wave 4 correction. We will soon know if wave 4 is done or if the ABC patter is still to finish. Here are two possibilities for the pair, both going up, just from different starting prices.
Oil is going to be better after Algeria meeting and we know that Canadian dollar is very sensitive for the oil price and it will refresh when the oil refresh , how it will lose all this points with NZD specially we have H&S on the monthly chart that means thousands of points the CAD is going to lose , i dont think that is going to happen .
Reply
TAS MoeHelou
Hi man, thanks for the comment. When you sai "oil is going to be better" do you mean for the production or consumer? you mean higher prices or lower? I see oil going up for maybe two months then down. I also see NZD strong. I wave count so if the charts tells me I'm wrong, I can't argue with the chart. So far this is my count, let's wait to see what happens this week. Here's the weekly count. It's either going up or may go down to complete a triangle, then up. This is what i see.
+1 Reply
yea i meant that the price of oil is getting higher and that will effect in a good way on cad .
Reply
TAS MoeHelou
Yes, this is my Oil chart. We still need to have an open mind. If Oil tripples its value, it does not mean CAD with tripple it value. I do agree that CAD will be affected, still waiting on the charts to tell me how much it will.
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