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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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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