NZDCAD possible short medium/long term
Prons:
1. OIL price and economy cycle which shows that commodities should go up (in long period of time),
2. Reserve Bank of New Zeland (RBNZ) Rate Statement & Monetary Policy Statement is on dovish site (as before),
3. Possible shifting in Bank of Canada Monetary Policy,
4. Global growth should positively affect on OIL price.
Cons:
1. If dollar index go up, then OIL price will consolidate or go down. It can negatively affect on CAD,
2. Global growth is seeing in many economies now, which can lead to neutral bias on NZD,
3. The price action on NZDCAD is in consolidate (higher time frame), which can lead to many speculations (both sides buy/sell).
Presented Idea is only an assumption, one of many possibilities which can happen.
Always invest consicously. The price can do anything at any time.
1. OIL price and economy cycle which shows that commodities should go up (in long period of time),
2. Reserve Bank of New Zeland (RBNZ) Rate Statement & Monetary Policy Statement is on dovish site (as before),
3. Possible shifting in Bank of Canada Monetary Policy,
4. Global growth should positively affect on OIL price.
Cons:
1. If dollar index go up, then OIL price will consolidate or go down. It can negatively affect on CAD,
2. Global growth is seeing in many economies now, which can lead to neutral bias on NZD,
3. The price action on NZDCAD is in consolidate (higher time frame), which can lead to many speculations (both sides buy/sell).
Presented Idea is only an assumption, one of many possibilities which can happen.
Always invest consicously. The price can do anything at any time.