General overview: NZD/CAD is holding the 10-day moving average and following completion of a compelling correction, the bulls are back in control testing critical resistance. The pair testing the major resistance level in the market. The market travels upwards side in the market. The bulls are forcing market towards the positive side in the market. The pair makes the clear path towards the buy signals in the market. The pair creating the buy path in the market. The market travels towards the buy position in the market. The pair creating the bullish candlestick in the pair 0.8731 and pair creates higher highs in the market. The pair makes the bullish marabuzo stick on daily chart pattern. The buy side can be formed on the positive side in the market.
Technical Analysis: From the technical point of view we can say that market set towards the buy position in the market. The market makes the positive side this time. The market technically sets towards the buy side in the market. On 15 minutes chart we can say that market makes the higher highs in the market also on 4 hourly chart market sets towards the bullish momentum .As, market makes the head and shoulder pattern and the RSI sets towards the buy side in the market as it travels above the 50 level and MACD will also makes the buy side in the market. The odds are in favour of the market and the bulls are playing at the front foot in the market.
Trade idea: We can say that market will step towards the buy side in the market at level 0.8714 and target will be 0.8780-0.8840 and stop loss will be 0.8640.
