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NZDCADANALYSIS

NZDCAD Top-Down AnalysisHello Traders, Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for Week 41 - 06 Oct M > Market is moving in a downward channel, price dropped from resistance level of the channel completing the W formation. W > Price dropped to test monthly support, faced rejection and moved to test weekly resistance. Price also has support of rising trendline. D > We can see formation of H & S pattern, hence we can expect bearish movement. As per COT NZD saw addition of few Long and more Short reducing net positions, confirming weakness of NZD for the said week. ZXY improved its position last week. CAD saw closure of both Long and Short positions, N-R saw addition of Long and Short positions and Commercials saw closure of both Long and Short, confirming weakness of CAD for the said week. CXY gained strength last week. 4H > Price is creating LH and LL in its bearish trend, price needs to break 4H support level to confirm bearish trend. We expect drop till support trendline. Pair Correlation > NZDCAD has positive correlation with NZDCHF and AUDCAD and negative correlation with EURNZD and GBPNZD. This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section you can share your view and ask questions. Thank You AP17FX
Short
by AP17FX
1
NZDCAD long trade ideaPlan: wait for the price to bounce off from demand zone --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
6
NZDCAD SWING TRADE ( 02.10.2020 )Good day guys.. SWING SETUP- NZDCAD HOUR-01 Price above 50,100,200 EMA Series of HH HL HH patterns Bullish momentum Price above RSI 50 Price above Ichimoku cloud Price above .50 Fibonacci HOUR-4 Price above .50 & .618 Fibonacci Strong rejection around 0.88000 Price above 50,100,200 EMA Ichimoku cloud is turning green DAILY Price above .786 Fibonacci Strong bullish candle Price above 50,100,200 EMA Price above Ichimoku cloud RSI above 50 Upward pressure NZDCAD-SWING TRADE Entry point @ 0.88350 Take profit @ 0.89530 Stop lose @ 0.87900 (Don't risk more than 1% of your capital) Follow our profile to get regular updates & Trade setups Donating via tradingview coins will help us to Make some valuable contents to trading our trading community
Long
by forexorbit
NZDCAD: Bearish strength seems to restrict BULLISH climb!!!After an important rejection off a strong resistance zone at around 0.8840, we start to see multiple failed attempts for NZDCAD to break out of this resistance zone and move up higher. I will be seeing movement below the Ichimoku cloud as of now, with BEARISH strength building up. The strong support level @0.8795 will potentially be broken, becoming a strong resistance level for the BEARISH movement. With that, I see price moving towards the next strong support level @0.8690. As of now, BEARISH has a high chance of taking over from here. Kindly hit the LIKE Button if you agree with my analysis and feel free to COMMENT your idea below. As for those who are keen to get daily updates and analysis from me feel free to FOLLOW me. Cheers and Happy Trading!!
Short
by YGForex
Elliot Wave: NZDCAD Bearish Continuation SetupSupport this analysis with your likes and comments! This is an update on the previous Daily setup shared a few weeks ago. NZDCAD reversed and broke the S&R zone and ascending trendline impulsively in wave i. According to Elliot Wave theory, impulse move is always followed by a three-wave correction. In NZDCAD's case, the short-term rally is currently taking the shape of a-b-c zigzag pattern in wave ii. Price is contained within a parallel channel and also retesting a significant supply zone. While the retracement can entends to a complex corrective structure, we can take a short entry from the current market level as long as the protective stop is placed at the major invalidation level which is the red line on the chart. Price has the potential to move downwards towards wave (a) low in wave iii of (c). The break of the green lines can be used as a conservative entry. The major invalidation level is the red line on the chart. What's your view on NZDCAD? Let me know in the comment. Thanks for reading! Veejahbee.
Short
by Veejahbee
NZDCAD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL **Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
NZDCAD EW Analysis: Short Trade SetupHi Traders, NZDCAD seems to have completed a 5-3 (impulse-correction) cycle. Prices decline in five-wave from the top in wave (a), followed by a three-wave corrective zigzag in wave (b). The pullback retraced almost 78.6% of the sell-off, and the price action becomes weaker as it approaches the top. According to Elliot Wave theory, once a 5-3 cycle is completed, the market resumes in the direction of the impulse which is bearish in the case. - Target below wave (a) low is plausible in the weeks ahead - The setup will be invalidated if the price trade above wave (a) high , red line on the chart. - Execution from the market price ideal as long as stop-loss is maintained above high. - The break of the green lines will further confirm the bears have indeed resumed. Best of luck on the chart. Regards, Veejahbee.
Short
by Veejahbee
6