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NZDCAD Weekly Forex Forecast 22nd October to 28th October by yshashmi37 on TradingView.com
Midterm forecast:
While the price is above the support 0.8320, beginning of uptrend is expected.
We make sure when the resistance at 0.8780 breaks.
If the support at 0.8320 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 0.8320 on 10/05/2018, so more gains to resistance(s) 0.8640, 0.8725 and maximum to Major Resistance (0.8780) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 62.
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