Currency pair analysis for today, October 13th: NZD/CAD

NZDCAD

The ascending wave pattern is truncated. The Awesome Oscillator shows a bearish divergence, while the Stochastic Oscillator signals overbought conditions. In the range of the resistance level, a “Pin Bar” reversal pattern with a false breakout was formed.

NZD/CAD rate online: monitor the price movement in real time.

Trading idea:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern.

Stop Loss: above the local maximum of the ascending pattern.

Target levels: 0.8818; 0.8755; 0.8627.