NZDCAD Buy Opportunity, Triangle Structure
Price has been in the triangle since mid July. As indicated in the chart, price is currently testing major key support. Since price is almost finishing the triangle structure, we could see a sharp change in price to the downside in the coming days ahead.
Scenario One (Bearish Breakout): Price breaks through major key support, look for consolidation in price below .8900.
Scenario Two (Rebound to the Upside): Price test major key support, where the market rejects a push lower, bullish rebound.
Scenario One (Bearish Breakout): Price breaks through major key support, look for consolidation in price below .8900.
Scenario Two (Rebound to the Upside): Price test major key support, where the market rejects a push lower, bullish rebound.