Hello everybody!
-On this daily chart we can see that previous support line(yellow line) now becomes resistance line and the price was rejected when it hit that line.
-We can also see that yellow line is very strong support and now resistance because it had multiple touches in the past(about 15).
-On daily base NZD and CAD are at same level and on weekly base NZD is stronger than CAD.
-I recommend to wait until conformation signal if it is going to happen.In other case if NZD gain more bullish power the price may break that resistance line,...
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.
-On this daily chart we can see that previous support line(yellow line) now becomes resistance line and the price was rejected when it hit that line.
-We can also see that yellow line is very strong support and now resistance because it had multiple touches in the past(about 15).
-On daily base NZD and CAD are at same level and on weekly base NZD is stronger than CAD.
-I recommend to wait until conformation signal if it is going to happen.In other case if NZD gain more bullish power the price may break that resistance line,...
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support,i will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.The information given is not a Financial Advise.