NZDCAD Weekly Forex Forecast 1st December to 7th December by yshashmi37 on

Midterm forecast:

0.8830 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 0.8830 is broken.
Technical analysis:

While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 0.8930 on 11/23/2018, so more gains to resistance(s) 0.9170, 0.9260, 0.9320 and more heights 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 75.

Share This