NZD/CAD 1H Chart: Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a false breakout a day earlier, NZD/CAD re-entered the 123-bar long triangle it has been forming since the beginning of the month.
Currently, the pair is vacillating close to the apex that will be reached later in the day. This solidifies the view that the real breakout is looming; however, the direction of the exit is not clear since SWFX participants are not univocal on the pair-around 52% of them are bullish and circa 48% are bearish. Technical indicators also send mixed signals, pointing to a rally in the short-term and to a decline in the medium-term. In the one-day period, technical signals are neutral.
© Dukascopy Bank SA
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