Description:
The counter NZDCAD started moving in an ascending triangle .A support trend line tested at the prices 0.9037 and 0.9135 and the flat-top resistance line at the price 0.9229.The price is moving near the top line of the triangle and it is expected to break the line. Buying pressure of the market may pull the price even more upwards. If the price breaks the top line of the channel then the movement of the price will be even more aggressive.Long is more preferable for this counter and the bullish trend may continue further.The MACD indicator curves gives additional support to the description.
Major Levels For This Counter Are:
R2 –0.9246
R1 –0.9222
PP –0.9196
S1 –0.9172
S2 –0.9146
The counter NZDCAD started moving in an ascending triangle .A support trend line tested at the prices 0.9037 and 0.9135 and the flat-top resistance line at the price 0.9229.The price is moving near the top line of the triangle and it is expected to break the line. Buying pressure of the market may pull the price even more upwards. If the price breaks the top line of the channel then the movement of the price will be even more aggressive.Long is more preferable for this counter and the bullish trend may continue further.The MACD indicator curves gives additional support to the description.
Major Levels For This Counter Are:
R2 –0.9246
R1 –0.9222
PP –0.9196
S1 –0.9172
S2 –0.9146