NZD/CAD falling inside the impulse wave 5

NZD/CAD falling inside the impulse wave 5

  • NZD/CAD falling inside the impulse wave 5
  • Next sell target - 0.8740

NZD/CAD continues to fall inside the minor impulse wave 5 which started earlier from the strong resistance area lying between the resistance level 0.9060, upper daily Bollinger Band and the resistance trendline of the sharp daily down channel from June. The active impulse wave 3 belongs to the intermediate impulse wave (C) from the start of June. NZD/CAD is expected to fall to the next sell target at the next support level 0.8740 (low of the previous wave (b)).



Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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