NZDCAD Excellent buy opportunity on this pull-back.

3 thg 7

The NZDCAD pair gave us a great buy entry last time we looked at it (May 08, see chart below) and made a direct hit on our 0.8500 Target:

The price got heavily rejected straight after and just hit the 1D MA50 (blue trend-line) again. The pattern that seems to be prevailing is a Channel Up (blue). The last time we had a Higher High rejection on its top, the pair pulled-back to the 1D MA200 (orange trend-line) and then made a short-term bounce to the Internal Lower Highs trend-line.

As a result, we will be using this opportunity to buy and target 0.84500 (just below the symmetrical Lower Highs trend-line).

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