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NZDCAD Wave Analysis – 28 January, 2019

  • NZDCAD rising inside impulse wave (3)
  • Further gains are likely

NZDCAD continues to rise inside the medium-term impulse wave (3) which started earlier with the daily Morning Star from the support area surrounding the strong support level 0.8920 (which has been reversing the price from November).

The active impulse wave (3) belongs to the long-term impulse wave ③ from last October.

NZDCAD is expected to rise further and re-test the next resistance level 0.9230 (which reversed the price multiple times in December)

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Source: FxPro


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