NZD/CAD 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
NZD/CAD attempted to break through the pattern lines for several times; however, all these breakouts were false as the pair always came back to the boundaries of ascending triangle pattern shaped on August 28.
Given that the pair is approaching the apex of the triangle, the real breakout is likely to appear in the nearest future. Ascending triangles often result in bullish breakout; however, traders' sentiment does not validate this, as 65% of market participants are bearish on the pair. Meanwhile, technical indicators are neutral in the short-and medium-term and are sending bullish signals for long-term.
© Dukascopy Bank SA
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