NZDCAD Weekly Forex Forecast 15th October to 21st October by yshashmi37 on

Midterm forecast:

0.8560 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.
We will close our open trades, if the Midterm level 0.8560 is broken.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
A trough is formed in daily chart at 0.8320 on 10/05/2018, so more gains to resistance(s) 0.8495 and maximum to Major Resistance (0.8560) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 45.

Share This