NZDCAD, ascending triangle pattern, buy signal
The NZDCAD pair has formed a ASCENDING TRIANGLE pattern in 4 hour chart. The pattern illustrates that highs are taking place at constant price whereas the lows are forming constantly higher than the previous. Further it can be notice the pair is attempting to form a head and shoulder pattern although it does not look highly accurate as it is a bit tilted. However, it it works then the pair can successfully test the 0.85 handle.
Coming onto placing trade, there’s possibility of pair edging lower to the 0.8395 level and then rising or it simply might surge from the current level of 0.8412. First target for the pair is at the at 0.84685 and next target is set at 0.8500. The stop loss set below the ascending trend line at 0.83760.
Coming onto placing trade, there’s possibility of pair edging lower to the 0.8395 level and then rising or it simply might surge from the current level of 0.8412. First target for the pair is at the at 0.84685 and next target is set at 0.8500. The stop loss set below the ascending trend line at 0.83760.