NZDCAD Weekly Forex Forecast 7th October to 13th October by yshashmi37 on

Midterm forecast:

0.8495 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 0.8495 is broken.
Technical analysis:

The RSI bounced from the downtrend #1 and it prevented price from more gains.
A peak is formed in daily chart at 0.8695 on 09/27/2018, so more losses to support(s) 0.8310, 0.7965, 0.7810 and more depths 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 26.

Share This