USDCAD began the week slightly higher reaching as high as 1.2510 but failed to sustain these gains.
NZD/CAD falling inside minor impulse (v)
2019-11-11 • Updated
- NZD/CAD falling inside minor impulse (v)
- Next sell target - 0.8500
NZD/CAD continues to fall inside the minor impulse (v) – which started recently when the pair retested the key resistance level 0.8800 (former major support level which has been reversing the pair from May). The active impulse wave 3 belongs to the extended downed impulse wave C from the end of June. NZD/CAD is expected to fall further toward the next sell target at the next support level 0.8500 (target price for the completion of the active impulse wave C).
All eyes are headed toward the Bank of Canada today. Estimates point to no change both for the main rate and the ongoing QE which stands at $3B weekly.
USD/CAD managed to advance further yesterday breaking above 1.21, reaching as high as 1.2128 earlier today, while our long signal that was issued at 1.2060 is now in profit with over +60 pips.
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Last week brought a selloff in markets. Some assets reached the most crucial support levels and are likely to reverse in a short term. Be ahead of trends and make the most out of this week!