ðNZD/CAD Nearest resistance zone.
ðIn the current analysis I decided to try to find where the current upward impulse which started with the breakout of the bottom on 10 October, followed by a huge upward wave until now, might end.
ð To define a possible good place for a correction, I decided to use the external fibo measure which I led from the current peak to the low we made today.
ðThe nearest possible level is around the price level of 0.8397 where the external fibo measure of 1.272 is located.
ðIt is worth noting that we have again moved out of the uptrend channel, breaking out of it at the upside.
ðThe support zone I decided to determine based on the 0.236 level and you can also see that it was previously very respected.
ðThe scenario I am playing out is to squeeze the price to the resistance level on a wave of optimism. But I am aware of the possibility of a correction at any time, this should be taken into account for this pair, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ð*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðIn the current analysis I decided to try to find where the current upward impulse which started with the breakout of the bottom on 10 October, followed by a huge upward wave until now, might end.
ð To define a possible good place for a correction, I decided to use the external fibo measure which I led from the current peak to the low we made today.
ðThe nearest possible level is around the price level of 0.8397 where the external fibo measure of 1.272 is located.
ðIt is worth noting that we have again moved out of the uptrend channel, breaking out of it at the upside.
ðThe support zone I decided to determine based on the 0.236 level and you can also see that it was previously very respected.
ðThe scenario I am playing out is to squeeze the price to the resistance level on a wave of optimism. But I am aware of the possibility of a correction at any time, this should be taken into account for this pair, If the outlook would change I will publish a post with an update, so I encourage you to actively follow the profile and read the description carefully.
ð*Please do not suggest the path I have drawn with the lines this is only a hypothetical scenario.
ðIf you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.ð
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ
ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
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ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ
ðē To keep up to date with all my activities I invite you to visit my Telegram ðē
ðē www.t.me/Investmatez ðē
ðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦðŦ