Hello, wanted to share my view about this pair, lots of confluence suggesting bearish direction.
Wish you all good luck and profitable trading, cheers!
Hello traders,
wanted to submit my view about NZD/CAD, as the current uptrend seems to be exhausted, failing now to close past 0.9550. Canadian dollar is getting fundamental support from recent oil surge. Weekly MACD showing bearish divergence, personally I will wait for a break and retest of the bull channel bottom trend line before going short. Wish you all good luck!
Hello, a lot of pairs are curently pulling back from recent runs, giving us good opportunities to enter following the momentum. Waiting on NZD/CAD to reach 0.382 fib, which would coincide with 1H 200 EMA and daily 50 EMA with 20 EMA possibly crossing it.
Hope you liked this idea, wish you all good luck!
Possible "Bullish Cypher" pattern formation seen on NZD/CAD daily charts.
The pair has slipped below 20-DMA at 0.9643, intraday bias lower.
Technical studies support downside, RSI and Stochs are biased lower.
Major support levels - 0.96, 0.9568 (50-DMA), 0.95, 0.9460 (100-DMA & Sept 23 low)
Major resistance levels - 0.9643 (20-DMA), 0.9673 (5-DMA), 0.97,...
In 30 minutes we will have the statement of the Interest rate for the New Zealand.
NZD / CAD strong shows indecisiveness on the dynamic resistance, going to create a range market in the area 0.97800 / 0.98500.
The return below the dynamic resistance could be a false signal.
Suggested to wait until the release of this important data before working in the market.
I think many NZD pairs will take at least a slight dip from current levels. This setup on the hourly chart looks good to take advantage of that. Trade the breakout
looking for a bearish stochastic crossover at the upper limit of the trading channel which has been well respected by price so far. The upward trend has had strong support so I'll trade this with a tight stop in case there is a continuation, will move to B/E quickly and will exit at the bottom of the channel or when there is a bullish stochastic crossover...
Very Bullish
On the wider picture and structure, price is in a strong uptrend and make a higher high.
0.93 zone is the area that holds the price, so as long as that zone holds, I am pretty bullish on that pair.
Key Resistance
- 0.965
Key Support
- 0.95
- 0.935
If you haven't been trading NZDCAD, you've missed out on some great pips/trades/profits/rides to the bank whilst laughing/etc!
This pair can be abusive, as long as you go into it knowing that everything is mucho easier!
OK here's what I'm doing AGAIN on this pair, I've been shorting it from 9650, in and out several times.
This recent retracement has pulled...
