According to my analysis, the New Zealand dollar (NZD) is expected to experience a bullish trend. This assessment is based on the presence of a Hidden Bullish Divergence on the 1-hour chart of NZDCAD, which suggests a potential reversal in the price movement.
Hidden Bullish Divergence occurs when the price of an asset forms lower lows, but the corresponding indicator, in this case, the NZDCAD chart, shows higher lows. This disparity indicates a potential shift in momentum and often signals an upcoming reversal to the upside.
Therefore, considering the presence of Hidden Bullish Divergence on the 1-hour chart of NZDCAD, it suggests that the NZD is likely to strengthen against the Canadian dollar (CAD), indicating a bullish outlook for the NZD. However, it's important to remember that technical analysis is not infallible, and other factors should be considered, such as fundamental analysis and market conditions, before making any trading decisions.
Hidden Bullish Divergence occurs when the price of an asset forms lower lows, but the corresponding indicator, in this case, the NZDCAD chart, shows higher lows. This disparity indicates a potential shift in momentum and often signals an upcoming reversal to the upside.
Therefore, considering the presence of Hidden Bullish Divergence on the 1-hour chart of NZDCAD, it suggests that the NZD is likely to strengthen against the Canadian dollar (CAD), indicating a bullish outlook for the NZD. However, it's important to remember that technical analysis is not infallible, and other factors should be considered, such as fundamental analysis and market conditions, before making any trading decisions.
Trade closed: target reached:
TP 1: HIT
