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FxWirePro: NZD/CAD Trade Idea

Friday, November 30, 2018 9:41 AM UTC

NZD/CAD chart on Trading View used for analysis

FxWirePro Currency Strength Index for NZD/CAD: Bias Bullish
FxWirePro's Hourly NZD Spot Index was at 62.7399 (Neutral)
FxWirePro's Hourly CAD Spot Index was at -128.663 (Bearish)

Technical Analysis: Bias Bullish
- Has broken above stiff resistance at 200W SMA at 0.9077
- Price action has edged above 61.8% Fib
- Momentum studies are bullish, Stochs and RSI show bullish bias
- MACD and ADX also support upside, we see +ve DMI dominance

Support levels - 0.9077 (200W SMA), 0.9070 (5-DMA), 0.9061 (61.8% Fib)
Resistance levels - 0.9227 (June 2018 high), 0.9262 (78.6% Fib)

Recommendation: Good to go long on dips, SL: 0.9070, TP: 0.92/ 0.9225/ 0.9260

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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FxWirePro: NZD/CAD Trade Idea

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