yangluo00
Long

Buy NZD/CAD hoping for a breakout

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
39 1 4
Technically the pair NZD/CAD has just broken out from its ~6 week triangle preceded by a bull run. It is likely that the bull trend starting from May this year will continue. Moreover, on the weekly chart, the pair is at the final stage of forming a massive inverse head and shoulder pattern, which can be interpreted as a bullish continuation patten.
Fundamentally the recent weak oil             price action may have further negative impact on the CAD, considering that OPEC is not going to decrease its oil             production.
reefque
3 months ago
bad analysis
Reply
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