1. Long term strong support at 0.84000
2. Energy prices helped CAD against other commodity currencies. Not sustainable. Expecting a pullback.
3. RSI massive divergence. The price doesn't want to be here but literally pushed because of the huge demand for oil and gas
4. NZD extremely oversold and CAD overbought
5. NZDUSD reached a convenient position of 0.6600 - further slide may be less. which will help NZDCAD upside
Not a quick trade. Timeline - Feb - Mar 2022
Best of luck
2. Energy prices helped CAD against other commodity currencies. Not sustainable. Expecting a pullback.
3. RSI massive divergence. The price doesn't want to be here but literally pushed because of the huge demand for oil and gas
4. NZD extremely oversold and CAD overbought
5. NZDUSD reached a convenient position of 0.6600 - further slide may be less. which will help NZDCAD upside
Not a quick trade. Timeline - Feb - Mar 2022
Best of luck
Trade active:
Trading above hourly 200 MA for first time since Dec 31. Momentum turning positive for NZD.
Trade closed manually:
Take some profit and close the rest after RNBZ tomorrow.