NZDCAD Pattern Formation
This currency has been forming a bearish flag for past few months and on its way to complete the pattern at 0.880
For the past few days, it has been forming a rising flag, which IMO is a strong indicator of the bearish momentum, but has not broken the pattern yet.
I do anticipate that in the short term, it might touch the 0.85 zone and the long term, 0.88. A shorter timeframe analysis will follow.
For the past few days, it has been forming a rising flag, which IMO is a strong indicator of the bearish momentum, but has not broken the pattern yet.
I do anticipate that in the short term, it might touch the 0.85 zone and the long term, 0.88. A shorter timeframe analysis will follow.
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