Home Forex Market Analysis Forex Signals NZDCAD Breakout Retest BUY

NZDCAD Breakout Retest BUY

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Flow Assessment

  • Price has created a fresh higher high and the buy swings look strong and aggressive, suggesting bullish order flow

Location Assessment

  • Price has recently broken through and retested a major level at 0.88170, which has acted as a support and resistance for high volatility swings multiple times before
  • Hence, given our bullish bias, it is logical to look for buys at this key area

Momentum Assessment

  • Price retested the key 0.88170 level and showed sharp signs of rejection
  • Due to the high relevance of the level and the bullish bias, this is sufficient for us to take a buy

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