Potential for either Long or Short on NZD/CAD Pair. - CAD news (unemployment numbers and rate decision) will affect trend of this. - High chance of bounce from resistence area that has been tested about 4 times already. - Will take 1-2 weeks to play out and find a direction.
Nice, tight channel here on the 60. Just the way i likie em. Im expecting a breakout higher towards the upper boundary of the even larger channel in the play her. Possibly even a breakout from there as well, higher. Lets see how it unfolds. Enjoy
nzdcad I have not seen anything like it before i am expecting a big drop after rejection from top resistance( supply zone ) Reasons are simple as hell major supply zone market consolidation showing signs of fall to bottom Trade with care Regards MJ
Market has tested 4 times at this resistance level but the bulls cant go through. great opportunity for a short position with great risk/reward ratio. Can open trade now near fibonacci .618 level with a stop loss near big resistance level or wait for a 5th test on that level. If it breaks the resistance level wait for a retracement to get in long.
There is a simple reason to short nzdcad that it is on strong resistance and also rejection from resistance, We should wait for a nice pull back to short it, it has also generated short signal according to my knowledge and experience.
NZD/CAD price action on the hourly charts has broken above 50 SMA at 0.9370. Kiwi remains buoyed after dovish RBA SoMP. We see scope for upside upto 0.94. Violation there could see next hurdle at 0.9430 and then 0.9494 levels. 20-DMA at 0.9316 is strong support on the downside, break below could test 0.9187 (50-DMA). Good to go long on dips SL: 0.9330, TP:...
US Dollar firmer ahead of FOMC, which is not supportive for commodities and hence commodity currencies. The Fed is expected to keep its rates unchanged at today’s meeting, while a more constructive tone is seen from the statement. The pair is down 0.21% on the day, finds strong support at 0.9255 levels. Break below could accentuate weakness, test of 0.9145...
There is a quadruple top forming on the weekly chart with a pin bar. This short could drop potentially by 750 pips!
NZD/CAD has breached major trendline support at 0.9275, intraday bias is lower. Technicals on 4-hourly charts support downside, Stochs have iolled over from overbought zone and RSI is biased lower. Immediate support is seen at 0.9252 (4H 20-SMA), break below will see test of next support at 0.9215 (trendline). Resistance on the upside is located at 0.9275...
Hey guys! Been so busy with stuff that I haven't got the chance to post! I found a really really strong H&S setup where the trend is about to break! This is what it looks like on the 4H chart: What influenced my decision: -Strong trend on 4H -Price failed to make a higher high -H&S pattern shows up Good luck guys! May the pips be with you!
Looks primed to break out from the channel in a bearish manner. Will open a bearish position on confirmation. Looking for a strong impulsive move down. .9000 looks good for a target 1. We'll see where it goes from there