We have a triangle forming, and within it a Gartley completing right at bullish trendline / lower triangle. We also have a AB-CD within the gartley to strenghten the gartley pattern. Targetting 0.382 fib of A-D move, stop loss below trendline.
Expecting trend continuation on NZDCHF. Last week NZD was going lower but expecting to be stronger against CHF which is affected by eurozone weakness and low interest rates.
Potential reversal zone between 0.9422 & 0.9445 so check if pattern is valid before entering long target 1; 0.949 target 2; 0.9534 stop loss @ or below 0.937
nzdcad trading around 0.9365 level Seems Strong support zone 0.9250 if hold above we can see 95-96 soon Advice buy in range of 0.9365-0.9270 sl below 0.9190 TP 0.9630 Breakage of 0.9190 may call for 0.89 level
A couple weeks ago, I was probably inclined to short NZDCAD. Now the picture seems different. There is some disrespect for the weekly band of resistance and there is a complex upward trend that could strengthen. Sound traders shift their mindsets as new information emerges. I'm long on NZDCAD, having contracted to lose a controlled amount (alias stop-loss)....
FX:NZDCAD Safe Trades;
Already in for uptrend move. Expecting weakening CAD after lower oil price.