Nzd-cad
NZDCAD Long - Watch out for a bullish wedge breakoutNZDCAD is triggering a bullish wedge pattern on the daily chart, after finding strong buying power at a horizontal support zone previously. (Setup posted recently).
The bullish divergence is also still in-tact. Overall, the pair trades near the lower range levels and has more upside potential.
Today's risk-on market environment and week/month-end profit taking taking may also push the pair higher.
NZDCAD Buy Setup: H.Support, Divergence and MomentumNZDCAD reached a horizontal support level, near the lowest level of 2019. A strong bullish candle is forming, and a bullish view is also confirmed by a bullish divergence between the price and the MACD.
Furthermore, the pair is forming a bullish wedge pattern with the current fifth having a high probability of breaking above the upper wedge line.
NZD/CAD Daily. the price at key level 1. We can short if the price break down and close
down of upper rectangle or wait break down and
short pull back .
2. For long we need to find
turn back pattern .
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck >>
critical zone NZDCAD daily1. the turn back from resistance channel and breakdown the wedge could make
double top referenced by divergence on MACD and RSI.
2.if we get a close over resistance channel we can long to complete the circle
and inverted head and shoulders.
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision based on your vision .
To protect capital and manage your deals and trading successfully
the maximum loss in each transaction for the same currency or
commodity in the same direction should not exceed ( 2% ) of the capital .
Good luck >
NZDCAD Approaching Support, Prepare For A Bounce
NZDCAD is approaching its support at 0.8912(100% Fibonacci extension ,horizontal swing low support, 38.2% Fibonacci retracement) where it could potentially bounce to its resistance at 0.9080(38.2% Fibonacci retracement, horizontal overlap resistance).
Stochastic (34, 5, 3) is approaching its support at 6% where a corresponding bounce could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks
NZDCAD - Support rejection can turn pair bullishGood week everyone,
As we can see NZDCAD is rejecting the bottom of our big channel (daily) and 50 weekly EMA level.
Now we can see H4 price is approaching 50ema+200sma and already overbought on h1 and because of this, its not a good idea to long right now.
Strategy: Wait break and close above H4 50EMA then long aiming monthly pivot + .382 fibo zone around .91000
This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
NZD CAD back long to the 92 zone We have taken a long trade on the NZD CAD
We have see confirm to long in our Buy zone and we are now targeting the 92 zone
NZD CAD Ready and Ripe to long back to 92 zone NZD CAD is a nice long trade with a good 3 to 1 ROI
This will be slow going but slow and steady wins the race , bit like the rabbit and the squirrel "no " Turtle
Patience is the Key to trading
Have a great trading week
NZD/CAD short opportunity NZD/CAD finds strong support at 110-EMA and cloud.
Break below will see drag till 38.2% Fib at 0.8914 ahead of 200-DMA at 0.8885.
Support levels - 0.9019 (110-EMA), 0.9010 (cloud base), 0.8914 (38.2% Fib)
Resistance levels - 0.9062 (200W SMA), 0.9075 (5-DMA and cloud top), 0.91
Watch out for break below 110-EMA to go short, SL: 0.9075, TP: 1.8915/ 1.8885
NZDCAD Short at Channel Resistance and Break of Rising WedgeHere we have an opportunity to short NZDCAD at the upper channel resistance.
Price has consolidated into a wedge pattern, and I expect a break to the downside between the 1.272 and 1.414 fib extension levels (as seen on chart)
NZDCAD, SELL ON H1, BUTTERFLY AND RISING WEDGENZDCAD has complete a bearish butterfly and given a clear signal from a broken rising Wedge
SCENARIO
Recommendation: Sell
Wait for a Bearish signal on the test of the Rising Wedge Resistance now turned support and Sell.
The Forcast will be invalidated when price close back inside rising wedge
Goodluck
May the Market be with you
What's Happening To NZD/CAD?Wait for retest and enter upon this...
Potential head and shoulder may also be forming...
NZDCAD buy opportunity, SHS formingThe NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern.
A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup.
This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold.
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NZDCAD AnalysisOn the daily time frame (D1) we see a double-top pattern forming indicating a reversal on this pair and price has reached a resistance level 0.92419. My expectations are to see price reach 0.90813.
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.9236 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 0.9074 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZD CAD Harmonic Bat PatternThere is a bearish harmonic bat pattern on nzdcad chart. Stop loss and target mentioned on chart.
NZD CAD SELL (NEW ZEALAND DOLLAR - CANADIAN DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
