FxWirePro: NZD/CAD Forms Bullish Bat Pattern, Good to Buy at Dips

FxWirePro: NZD/CAD Forms Bullish Bat Pattern, Good to Buy at Dips

21 April 2016, 08:22
Roberto Jacobs
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FxWirePro: NZD/CAD Forms Bullish Bat Pattern, Good to Buy at Dips

  • Pattern Formed- Bullish Bat Pattern 
  • Potential Reversal Zone (PRPZ)- 0.8780 
  • NZD/CAD has slightly recovered after making a low of 0.8800 level .It is currently trading around 0.88125. 
  • The pair’s major intraday resistance is around 0.8838 (7 day 4H EMA) and break above targets 0.8865/0.8905 in short term. 
  • The pair should close above 0.9000 for further bullishness. 
  • On the lower side the pair should break below 0.8750 for major trend reversal . Any break below 0.8750 will drag the pair down till 0.8700/0.8670.

It is good to buy at dips around 0.8810 with SL around 0.8775 for the TP of 0.8865/0.8905

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