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Nzdcadsell

NZD/CAD and where to SELLHey tradomaniacs, previous fakeout the the downside hasbeen a strong Stop-Loss-Fishing-Move and resulted in a strong upmove. Currently NZD/CAD is testing a strong resistance but still shows a lot of buy-pressure there which makes it more likely to see a break until the next resistance which would complete the A-B-C Pattern close the the 50% - 61,8% Retracement. Up there we would probably get a nice chance to sell as soon as we see bearish confluence. LEAVE A LIKE AND A COMMENT - I appreciate every support! =) Peace and good trades Irasor Wanna see more? Don`t forget to follow me. Any questions? PM me. :-)
Short
by Trading2ez
1
NZDCAD - BEARISH BIASNZD - BEARISH 1️⃣ New Zealand extended its level three lockdown restrictions in Auckland until at least midnight on Sunday, reporting 7 fresh cases of the coronavirus as community transmission persists. 2️⃣ The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6% in the second quarter of 2020, posting the largest drop in total volume sales since the series began in 1995. CAD - BULLISH 1️⃣ CAD lifted by a rise in oil prices after tropical storms Marco and Laura hit the Gulf of Mexico and amid optimism about coronavirus treatments. 2️⃣ US Dollar Index (DXY) is staying on the back foot as the greenback struggles to grab investors' attention as a safe-haven. ===== TECHNICAL ===== - We shorting NZDCAD on pivot point level + SMA100 area + SBR level on H1 chart. - NZDCAD in bearish zone. ===== RISK TO THIS TRADE ===== This trade will hit stop loss if oil prices going down and market sentiment turns to risk-off mode.
Short
by MonsunAsia
NZD/CAD Possible Short soon? await price actionhey traders, As we can see nzdusd has been in a uptrend since 23/24th March - we can see it is now approaching a key resistance zone. It last tested this region is June 2019 in which it dropped. If it fails to break this area again in 2020, retraces then retests the resistance but the buyers fail to push price higher..We could see a nice sell opportunity as this would also create a double top confluence as well as being at a key resistance zone. If this set up plays out, i expect a pull back to the 0.5 fib region which also is around a good support area which is another confluence However, if price breaks the resistance thus making it support, we could then look for buy opportunities - await price action
Short
by TradewithDann