Nzd Cad Longdouble bottom with rsi divergence ...
i wanna see a push higher through the "flip zone" to enter long into a further bullish move ..
break of the lows means we should look for a short and reevaluate
Nzd-cad
NZDCAD Breaking OutOn the daily time frame NZDCAD is showing a nice ascending channel. Previous candle touched the upper range and the current candle is trading outside of it,, making it a sweet buy setup. Stoch also just made its bullish cross over.
Ive pointed out the next resistances areas which either be used as take profit targets or a target at which you move up your stop loss to lock in some profit and aim for the next resistance.
stop loss 0.9270
NZD/CAD breaks major supports, stay short for 0.93NZD/CAD trades with a strong bearish bias, scope for test of 78.6% Fib at 0.9297.
The pair has broken below major trendline support at 0.95 levels last week.
Decisive break below major 200-DMA support at 0.9562 on Tuesday's trade has added to downside bias.
Momentum studies are heavily bearish, RSI extremely weak at 36 and biased lower.
MACD also support downtrend. However, stochs are at oversold levels, so some caution advised.
Weekly charts are also heavily bearish, with break below weekly 20-SMA at 0.9442.
Support levels - 0.9395 (61.8% Fib retrace of 0.9171 to 0.9758 rally), 0.9386 (cloud base), 0.9297 (78.6% Fib)
Resistance levels - 0.9449 (5-DMA), 0.9460 (200-DMA), 0.95
Good to go short on rallies around 0.94/ 0.9410 levels, SL: 0.9460, TP: 0.9325/ 0.93/ 0.92
NZD CAD Long almost done.NZD CAD is looking like its about to reach it's fifth wave at around the record highs before it runs out of steam. My TP1 has been taken and now I'm waiting for TP2 with stops at break even. I'm expecting a big down move after this is all over.
NZD/CAD short setupNZD/CAD has shown a break below major trendline support at 0.9370, bias lower.
Recovery attempts in the pair were rejected at 200-DMA and Technical indicators support downside.
Upside on the day remains capped below 5-DMA and stiff resistance also seen at 50-DMA at 0.9382.
We see scope for test of 0.9317 (Apr 27 low). Further weakness will drag the pair lower to 0.9175 (trendline).
Bearish divergence on RSI and Stochs adds to downside bias. Bearish invalidation on close above 200-DMA at 0.9448.
Support levels - 0.9318 (Apr 27 low), 0.9278 (Mar 31 low), 0.9175 (trendline)
Resistance levels - 0.9382 (50-MA), 0.9388 (5-DMA), 0.9412 (cloud top)
Good to go short on close below trendline at 0.9370, SL: 0.9415, TP: 0.9320/ 0.9275/ 0.92
NZDCAD Awesome Bearish SetupOn NZDCAD we have an awesome bearish setup. The price is heading towards the 14 and 72 EMA and the lower range while the Stoch RSI shows alot of selling pressure and the Adx shows a strong bearish trend.
This leads to the conclusion that NZDCAD is heading for a further drop!
Take profit: 0.92800
Stop loss: 0.95200
NZDCAD | GWAVES DETECTED | TARGET AREA DEFINEDHello Traders,
A Gwave has been detected in NZDCAD. Based on the magnitude and force of the Gwave the final destination is highlighted in green. I have also highlighted important levels of Support and Resistance using the Gwave model. The soonest we will hit the Target area will be around June 8th. Pay attention to how price responds to the levels highlighted in this chart.
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Best,
Sirak
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