CADNZD trade ideas
NZDCAD on daily timeframe moving in bearish channel testing the resistance zone
bearish harmonic pattern with bearish diversion at 4hr timeframe
fundamental analysis : bearish
technical analysis : bearish
news cad expected inflation to go down
sentimental : bearish
entry level 0.8310
stop Loss 0.8376
Risk Reward 1:1 0.8244
Risk Reward 1:2 0.8178
Risk Reward 1:3 0.8112
good luck
NZDCAD - Expect retracement ✅Hello traders!
‼️ This is my perspective on NZDCAD.
Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look only for long position. I expect price to make a retracement to fill that huge imbalance and then to reject from bullish order block.
Fundamental analysis: This week on Wednesday (GMT+3) we will see results of Cash Rate on NZD, news with high impact on currency.
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CAD/NZD Trade Alert - Bullish Opportunity at Key Support LevelThe CAD/NZD currency pair is currently positioned at a crucial support level, exhibiting strong technical indicators suggesting a potential upward movement. The identification of a Bullish RSI Divergence on both the 1-hour and 4-hour charts reinforces our bullish sentiment.
Entry and Risk Management:
Entry Point
Our recommended entry point for this trade is at 1.2008. This level aligns with the support area, providing a strategic entry with a favorable risk-reward ratio.
Stop Loss:
To manage risk effectively, a stop loss should be placed at 1.1928. This ensures that any unexpected downward movement beyond the support level is contained, protecting our trading capital.
Profit Targets:
Take Profit Levels
We have identified three key take profit levels for this trade:
TP-1: 1.2088
TP-2: 1.2168
TP-3: 1.2247
These levels are strategically chosen based on historical resistance points and expected price action, offering incremental profit-taking opportunities.
Confluence and Confidence:
The confluence of the key support area with the Bullish RSI Divergence across multiple time frames adds significant confidence to our bullish bias. The RSI Divergence indicates a potential reversal and strength in buying pressure, suggesting that the CAD/NZD pair is poised for an upward correction.
Conclusion:
The current technical setup for CAD/NZD presents a compelling bullish opportunity. With the entry point at 1.2008, a well-placed stop loss at 1.1928, and clearly defined take profit targets, this trade setup offers a favorable risk-reward profile. Traders should monitor the price action closely and adjust their positions accordingly as the market evolves.
NZDCAD SHORT
Weekly:
- Hedge position
- 3 leg -68 FC
- Solid candle close
- Very clean and impulsive S&D zone
S&D zone where price is tap and go
Daily:
- Impulse has happend
- No Daily FIB C
- Seeing momentum is taking of
4H:
- Waiting on deceleration
- Black line = risk free
- Potentially waiting on reversal pattern
(-> because we are at selling regions)
NZD CAD SWING LONGHello there traders! I have made an analysis on this pair that i rarely looked at. I am expecting this pair to be pushing hard to the higher highs on Weekly due to completing corrective ABC wave. Its still early for entry and i will enter coming week on retrace to be safe. Let me know if you have any questions! Trade safe traders!
NZDCAD: Bullish indices and Potential upsidesHey Traders, in the coming week we are monitoring NZDCAD for a buying opportunity around 0.82600 zone, NZDCAD is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 0.82600 support and resistance area.
We would also like to consider the current bullish bias on indices and the bearish USD, these factors are positive for commodity linked pairs like NZDCAD and AUDCAD due to the correlation.
Trade safe, Joe.