Forex trading NZD/CAD in descending triangle – WTI Crude Oil in symmetrical pennant [Video]
|In today’s Market Outlook let’s take a look at Forex Trading on WTI Crude Oil, GBP/NZD, and NZD/CAD.
Last time we spotted a range trading opportunity on NZD/CAD and price action did not disappoint.
And, we have an important economic event this Wednesday.
NZD/CAD might not be a currency pair that you would trade very often but sometimes these minor pairs give us great opportunities.
We now see price action forming a descending triangle so we will continue watching.
This week, we have an Interest Rate Decision from the RBNZ and we are expecting a lowering so we may see some weakness.
I encourage you to look at all NZD pairs before the news.
As you can see we have mostly consolidation but there are some pairs to watch like GBPNZD.
We can see that the pair is very overbought and, if we see a pullback into tomorrow’s news, we may have an opportunity.
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