NZDCAD facing bearish pressure, potential for further downside!Price is holding below the descending trendline and moving average resistance, showing bearish pressure in line with our bearish bias. We could potentially see price reverse at 1st resistance, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension and horizontal pullback resistance, and drop further towards 1st support, in line with 61.8% Fibonacci extension and horizontal swing low support.
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Nzd-cad
NZDCAD Long OpportunityAfter careful observation on this pair last week, it seems to set its self of nicely for a long opportunity that would be very optimal for our risk-reward. Going further back into historical data, double tops and double bottoms both are strong reversal patterns in this pair. It'd give us great chances of price going our way if we see price close above the last local support wick therefore allowing us to enter long and carrying it for the rest of the week.
LONG ON NZDCADHello, my fellow traders hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into it.
As we can see, the price broke from its Resistance. One can go long
Let us know your views on this in the comment section. Thank you all.
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NZDCAD nzdcad overall is on a bearish trend but we have created a doubble bottom that means market havent to much force to create a new lowerlow. There is a fresh supply area that i am looking for target in buys.
From there (supply zone 0.9000) we can look for sells if we see rejections.
0.9000 is a round number too .
Nzdcad, might have a bottoming out potential....
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The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
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NZDCAD turned at the 0.382 🦐NZDCAD after the strong bearish impulse retraced exactly at the 0.382 Fibonacci level.
The market then tuned again into the bear scenario and now is testing the support area.
According to Plancton's strategy if the price will break below we can set a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Downtrend in NZDCADThe downtrend starts on February 25 and we have already seen a nice down movement.
We are now considering a new sell opportunity.
Yesterday the price reached 0.8835 - this is 38.2 of the fibonacci of the last decline.
We are currently seeing repulsion. This allows for a drop to 0.8750. The next level is 0.8700.
NZDCAD - SWING - 30. MAR. 2021Welcome to our weekly trade setup ( NZDCAD )!
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1 HOUR
Price turnover..
4 HOUR
Very bearish market structure turning right now.
DAILY
Good long entries, price about to rise!
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FOREX SWING
BUY NZDCAD
ENTRY LEVEL @ 0.88130
SL @ 0.87540
TP @ 0.89660
Max Risk: 0.5% - 1%!
(Remember to add a few pips to all levels - different Brokers!)
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Have a great week everyone!
ALAN
NZDCAD will test the channel 🦐NZDCAD after the recent lows starts a retracement move.
The price is moving within a long descending channel and bounces over the lower trendline.
According to Plancton's strategy if the price will close above we can set a nice long order
----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
NZDCAD: Great Buying Opportunity
NZDCAD is currently testing strong daily structure support.
On that, the price is currently forming a double bottom formation.
To catch a bullish move, wait for a breakout of 0.8778 local structure resistance (1H candle close above)
Then buy aggressively or on a retest.
Goal - 0.8832
In case if the price sets a new low hourly, the setup will be invalid.
NZDCAD on a channel break 🦐NZDCAD after the long descending downtrend reached and bounced over the weekly support at the 0.89300 area.
The price has now reached the upper trendline and according to Plancton's strategy if the price will break above we can set a nice long order.
----
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger
Critical Support broken on NZD/CADGood morning traders, today we bring you our analysis in NZD/CAD, which we published last week and we were waiting for a break in the support zone. That is happening now, so we want to detail our vision.
🔸Summarizing the context, the price broke the ascending channel and the support zone after bouncing off a strong resistance zone.
🔸If we go to a lower timeframe (4H), the price made a clear pullback and after that it was rejected.
🔸The interesting thing about this pair is the bearish potential. It has, towards the next support zone, a 300 pips distance.
NZDCAD facing bearish pressure, potential for further downside!NZDCAD is facing bearish pressure from descending trendline resistance. Prices might face resistance from 1st resistance which coincides with 100% fibonacci extension and 61.8% fibonacci retracement. Prices might push towards 1st support level which coincides with 61.8% fibonacci extension and -68% fibonacci retracement. If prices push past 1st resistance, prices might face resistance from 2nd resistance which coincides with 127.2% fibonacci retracement. EMA is also above prices, showing bearish pressure.
Bearish Idea on NZD/CADGood morning traders, today we detected a good opportunity in the NZD/CAD pair and we want to share it with you.
🔸First of all, the price has been in an uptrend for a long time, and we can confirm this with the Ascending Channel.
🔸It recently bounced from a Weekly Resistance Zone.
🔸From there, a bearish movement began, and, for the moment, it appears to be a correction of the main trend.
🔸Now the price is breaking the trendline, and is supported by a strong Support Zone.
🔸To confirm the bearish view, we are waiting for a clear bearish breakout.
🔸The target of the move is the next support zone at 0.86370.
NZDCAD - Setting Up For a FallWe're anticipating NZD weakness soon so this would be a great trade. We're just waiting for a pullback now and a retest before entering. Only issue is, the major wedge is still in tact so it could be that the retest may happen in the inner trendline.
Watch for corrective price action and then enter on the retest.
See links below as to why we're anticipating NZD weakness.
Goodluck and trade safe!
NZDCAD - Setting Up For a FallWe're anticipating NZD weakness soon so this would be a great trade. We're just waiting for a pullback now and a retest before entering. Only issue is, the major wedge is still in tact so it could be that the retest may happen in the inner trendline.
Watch for corrective price action and then enter on the retest.
See links below as to why we're anticipating NZD weakness.
Goodluck and trade safe!