NZDCAD at Key Resistance Level: Will it Drop To 0.82350?OANDA:NZDCAD is approaching a significant resistance zone, marked by prior price rejections and strong selling pressure. This area has historically acted as a key supply zone, indicating the potential for a pullback if sellers regain control.
The current market structure suggests that if the price confirms a rejection from this resistance zone, there is a high likelihood of a downward move. I anticipate that if rejection occurs, the market may head lower toward the 0.82350 level, which represents a logical target within the current market structure. However, a break above this resistance level would invalidate the bearish bias and could lead to further upside.
This setup reflects the potential for a retracement after an impulsive move, supported by the confluence of previous price behavior and the current structure.
If you agree with this analysis or have additional insights, feel free to share your thoughts in the comments! 🚀
NZDCAD trade ideas
Bearish drop?NZD/CAD is rising towards the pivot and could drop to the 1st support.
Pivot: 0.82703
1st Support: 0.81897
1st Resistance: 0.83299
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NZDCAD: Bearish After the News?! 🇳🇿🇨🇦
NZDCAD turned bearish after a release of Canadian Inflation data.
The price retraced from a key daily resistance and broke
a support line of a rising parallel channel on an hourly time frame.
The market may drop at least to 0.8293
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NZD/CAD - Day Trading Analysis With Volume ProfileOn NZD/CAD , it's nice to see a strong buying reaction at the price of 0.81930.
There's a significant accumulation of contracts in this area, indicating strong buyer interest. I believe that buyers who entered at this level will defend their long positions. If the price returns to this area, strong buyers will likely push the market up again.
Strong rejection of lower prices + Uptrend and high volume cluster are the main reasons for my decision to go long on this trade.
Happy trading
Dale
NZDCAD Buy ForecastNZDCAD New Forecast👨💻👨💻
Am expecting a bullish movement to 1.2+RR
This is my personal trade and not in anyway a mandatory setup.
Note:
Follow proper risk management rules. Never risk more then 2% of your total capital. Money management is the key of success in this business...... Set your own SL & TP.
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NZD/CAD SENDS CLEAR BEARISH SIGNALS|SHORT
Hello, Friends!
NZD/CAD is making a bullish rebound on the 9H TF and is nearing the resistance line above while we are generally bearish biased on the pair due to our previous 1W candle analysis, thus making a trend-following short a good option for us with the target being the 0.820 level.
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NZDCAD: Strong Bullish Signals 🇳🇿🇨🇦
I see 2 strong price action confirmations on NZDCAD:
the price broke a resistance line of a bullish flag
and then formed a confirmed change of character CHoCH on a 4H.
I think that the market will continue a bullish rally.
Next resistance - 0.83
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