Mihai_Iacob

NzdCad- Large flag could lead to 1k pips gain

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
After it found the bottom at 0.76 back in October '22, NzdCad has started to rise and with the 0.83 break it also confirmed the reversal to an up trend.
The high of 0.88 back in December is followed by a correction and confirmation of 0.83 as new support.
The drop from 0.88 to 0.83 is contained in a large 5 months flag which at this moment seems complete.
A new leg up is probable from this point on and, considering the first leg up is 1.2k pips, we can expect the same.
In conclusion, I favor gains for long-term trades (3 months or so), and this bullish scenario is negated by a drop under 0.82

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