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NZDCAD

NZDCAD Is Very Bullish! Long! Please, check our technical outlook for NZDCAD. Time Frame: 4h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is on a crucial zone of demand 0.825. The oversold market condition in a combination with key structure gives us a relatively strong bullish signal with goal 0.834 level. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
NZDCAD - Trend-Following Sell Setup ⬇️Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. on DAILY: Left Chart NZDCAD has been overall bearish trading inside the falling channel in orange and now it is sitting around the upper orange trendline again, so we will be looking for sell setups on lower timeframes. on H1: Right Chart For the bears to take over, we need a momentum candle close below the last major low in gray. Meanwhile, until the sell is activated, NZDCAD can still trade higher and even break the orange trendline upward. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Short
by TheSignalyst
7
NZD/CAD:Potential Bullish Pullback Expected based on FundamentalAccording to economists, inflation in New Zealand is expected to remain high for an extended period, with increased government spending being a significant factor. While there are no current predictions for the next quarterly inflation figures due in July, the government is focused on maintaining fiscal sustainability and keeping inflation under control. As a result, the Reserve Bank of New Zealand (RBNZ) is likely to continue its hard-line approach to monetary policy by raising interest rates, which could have a positive impact on the New Zealand dollar. From a technical perspective, the NZD/CAD price is currently within a bullish channel and is expected to retest the lower side of the dynamic trendline of support, which coincides with the 61.8% Fibonacci level. The RSI is also in oversold territory. Considering these technical indicators along with the fundamental aspects, our forecast suggests a possible pullback towards the bullish main trend, as seen on the daily charts.
by FOREXN1
19
NZDCADPrice looked to be breaking through support then potentially re-testing for a further drop down - am neutral atm, however watching this expanding pattern unfold for direction. retail were VERY LONG the pair at one point up until this morning when they flipped net Short (like 70% according to my source)... so upside 'could' be coming there is a BIG bull flag pattern on higher tf as indicated by my blue channel shading. if we break out of of this current 4hr pattern to upside then im long and strong for potential MAJOR breakout... but will stay nimble and trade downside if necessary :-)
by Gazzawins