munyaelliott

LONG POSITION ON NZD/CAD

Long
FX:NZDCAD   New Zealand Dollar/Canadian Dollar
Price action is currently in a bearish trend and prices are expected to turn when they hit the ascending trendline, which is in confluence with the support zone (marked in green). The descending trendline also shows that this pair making a triangle pattern (price squeeze). i would expect to take a long position when the stochastic oscillator hits the 20-zone as it is currently overbought, and when the price just manages to escape gthe lower Bollinger band

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