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NZD/CAD: Clear Flag Chart Identified On 4 Hour Chart

Published 08/30/2016, 05:03 AM
Updated 03/09/2019, 08:30 AM

Autocharts it recently identified the clear Flag chart on the 4-hour NZD/CAD charts. Autocharts it rates the overall quality of this chart pattern at the 8-bar level – which is the result of the sharp Initial Trend (reflecting the strength of the preceding upward impulse, which Is the “flag-pole” of this flag), average uniformity (5 bars) and near-maximum clarity (9 bars). NZD/CAD is expected to rise toward the upper resistance trendline of this flag.

NZD/CAD 28 Candles Chart

As can be seen from the following chart – the upper trendline of this Flag runs parallel to the Key Resistance Level 0.9483 (of the type Approach) – which was also previously identified by Autochartist on the 4-hour NZD/CAD charts. The pair is expected to reach this Key Level in the nearest time. Two different-type bullish chart patterns heighten the probability of further gains for this currency pair.

NZD/USD 30 Candles Chart

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