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Nzdcadbreakout

NZDCAD Breaks Out From Wedge And Past Highs NZDCAD weekly Time frame is at a major support, the Daily Time Frame formed a wedge pattern and now the market broke out of it with a full body candle, and the last candle toke out already some more highs, I believe this has a lot of potentials to go Bullish, I see there is a past support to become future resistance in around 150 pips (see the green dotted line) I will probably be taking profit at that area unless I see the market is still going strong with full body candles I might take it to the down trend line. Reason For Entry: 1)Weekly Strong Resistance 2)Daily Wedge Breakout With Full Body Close 3) Market Already Making Higher Highs
Long
by ElyaStein
NZDCAD reversed from resistance, potential drop! NZDCAD reversed off its resistance at 0.841 where it could potentially drop further to 0.838. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone