Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

NZD/CAD: buy target - 0.9300

By: Dmitriy Chernovolov

  • NZD/CAD reached buy target 0.9000
  • Next buy target - 0.9300

NZD/CAD continues to rise after the recent sharp breakout of the round resistance level 0.9000 (which reversed the (A)-wave of the active primary ABC correction ② and which was set in our previous forecast as the buy target for this currency pair). The breakout of the resistance level 0.9000 coincided with the breakout of the 50% Fibonacci correction of earlier impulse ① - accelerating the 3rd minor impulse wave 3, which belongs to the (C)-wave from the middle of November.

NZD/CAD is likely to rise further to the next buy target at 0.9300 (target price calculated for the termination of the active ABC correction ②).

Scroll to top