NZDCAD a buying opportunity ðŸĶ

āļ—āļĩāđˆāļ­āļąāļ›āđ€āļ”āļ•:
Looking at the 4-hour chart of NZDCAD, we can see that the price has been forming a series of lower lows and lower highs, indicating a downtrend. However, this trend has been interrupted by a bounce off a monthly support level, suggesting a potential trend reversal.

After this bounce, the price formed an impulse that took it to a daily resistance level, where it experienced a retracement to the 0.786 Fibonacci level. This retracement is significant, as it often acts as a reversal point for price movements.

Since this retracement, the price has formed a new impulse and is currently testing a daily resistance level once again. If the price is able to break above this resistance level, we could see a continuation of the bullish trend.

The technical analysis suggests that the price of NZDCAD has the potential to continue its upward movement. Traders looking to take advantage of this potential could consider setting a long order if the price breaks above the daily resistance level according to the Plancton's strategy rules.
āļšāļąāļ™āļ—āļķāļāļŠāđˆāļ§āļĒāļˆāļģ
āļŠāđāļ™āļ›āļŠāļ­āļ• break above as expected
āļšāļąāļ™āļ—āļķāļāļŠāđˆāļ§āļĒāļˆāļģ
āļŠāđāļ™āļ›āļŠāļ­āļ• retesting now waiting for the inversion
āļšāļąāļ™āļ—āļķāļāļŠāđˆāļ§āļĒāļˆāļģ
āļŠāđāļ™āļ›āļŠāļ­āļ• seem to be a perfect break and retest
āļšāļąāļ™āļ—āļķāļāļŠāđˆāļ§āļĒāļˆāļģ
āļŠāđāļ™āļ›āļŠāļ­āļ• a deeper retracement to the 50%
āļšāļąāļ™āļ—āļķāļāļŠāđˆāļ§āļĒāļˆāļģ
āļŠāđāļ™āļ›āļŠāļ­āļ• testing the weekly resistance
240minCADFibonacci RetracementNZDNZDCADTrend Analysis

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