NZD/CAD: war between trendlines

The pair has been on the run during the past few weeks and stabilising on daily and weekly basis.

On the hourly time frame , The pair is supported at the area of 0.9510 and will probably looking for a move higher but it will be still bounded by the bearish trend line formed on the 4h chart.

The pair also has a supportive trend line on the 4h chart , so I prefer breaking out higher and trading above 0.96 figure all the way to 0.9680 area.

A close below 0.95 on the 1h chart is warning and a close below the trend line on the 4h chart is an invalidation of the trade..

Happy trading

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Usd recovering against the board

The dollar has been regaining some strength since friday noon. Usdjpy has recovered 100 pips from 107.30¥ ...the pair might face some tough resistance at current area, however i think we might be heading towards 110.80¥ soon. Resistance area can be found at 108.40 followed by very tough resistance at 108.80¥. If broken , we will have clear way to break the medium term downtrend andstart building new bullish trend targeting a break above 115¥ in the medium term. I am on the side of that reversal scenario unless we see a decisive break below 106¥ on daily or weekly close.

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