NZDCAD Wave Analysis – 18 October, 2019

NZDCAD reversed from support area
Likely to rise to 0.8430

NZDCAD recently reversed up from the support area lying between the pivotal support level 0.8240 and the lower daily Bollinger Band.

The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star.

NZDCAD is expected to rise further and retest the next resistance level 0.8430 (top of the previous corrective wave (4)).

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The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: NZDCAD

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