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jojofang0901

NZDCAD Descending Structure, Bullish Reversal

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NZD/CAD (OANDA:NZDCAD)  
jojofang0901 Actualizado   
OANDA:NZDCAD   NZD/CAD
Chart Patterns Parallel Channel Flag priceaction structure pattern impulse correction Wedge chanenl
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chartpattern parallelchannel flagpattern priceaction structure pattern impulse correction wedgepattern chanenl

Hello everyone:

Similar like NZDUSD, we can see here on NZDCAD has very similar bullish reversal price action on the higher time frame.

Price is currently in the large, descending structure, correcting the price down.

With multiple swing highs and lows, we can tell this is the correctional phase of the market condition.

Latest development give us a lower time frame descending channel, at the bottom of structure, good signs for possible bullish reversals.

Wait for more lower time frame development, if price can form bullish price action, and continuation corrections, then it can confirm the next move to the previous highs.

Thank you

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