Daily Video Analysis: NZDCAD bullish breakout, potential for further upside!

Today we take a look at NZDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price has just seen a bullish breakout from the descending trendline resistance-turned-support,. We could see a bounce at buy entry, in line with our horizontal pullback support, and further upside towards our take profit, in line with 61.8% Fibonacci retracement. Stochastics is also reacting at the lower support level where it has bounced from before.

The material has been provided by InstaForex Company - www.instaforex.com

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