〽️NZDCAD Descending Channel Reversal || free Forex analysis ||

〽️NZDCAD 
Descending Channel Reversal 

Note:- ( not a signal, only For Education Purpose)📚

Since from 2016, NZDCAD is moving in a clear descending channel by forming lower highs and lower lows.

On this month, NZDCAD starts to make a correction which looks like a reversal now on descending channel.

However, the NZDCAD have more chances to break this descending channel soon.



Reason :-

New Zealand is one of the world's first countries to win the battle of Coronavirus and reopen its economy.

This made New Zealand Dollar stronger continuously, other than any currency and it’s looking very attractive to investors worldwide.

However, Now Canadian Economy also starts to get strong due to crude oil recovery.

Now, NZDCAD starts to make a correction which looks like a reversal now on descending channel.

However, the NZDCAD have more chances to break this descending channel soon.