NZD CAD is bouncing back from strong Weekly Channel , price has not been able to move further in these days despite CAD weekness , higher time fram suggests SHORT opportunity , you can also hold trade as we expect breaking of daily upward trendline and further downside.
Price is In Descending Channel , Broke Trendline towards downside of retracement move towards upper channel Line , Ichimoku Cloud Analysis : in 1 hr chart , Good to Short : In 4 Hr Chart , Coming out of Cloud towards downside , wait for confirmation to be more sure .
Short now or wait for retracement to the trendlines for better RR , whatever suits your trading style.. this trade can also be holded for over 100 pips of profit as per daily chart .
Little aggressive trade setup , but i think worth taking due to multiple rejections of upper range , however i am entering with small positions only for now , If price manages to break trend line , i would enter again on retest
Bouncing back from Channel & Support zone ,Above 20 BB moving average and pushing higher , CAD is strengthning against all counterpair in Major time frames. good entry point with nice RR
Good rejection from Top Channel Line , ongoing correction , Short term Strength should be seen in CAD in coming days after prolonged weekness in currency ,
Small scalping opportunity in Down trend , stop loss is less than 30 pips which may hit due to thin trading conditions ,you can adjust your stop loss to support /resistance levels as per time frame of chart used , but if you see long term NZD CHF is in good downtrend in both 4hr & Daily chart , price is below Moving averages in 4hr n Daily charts , so over all...
Simple price action between parallel channel and trendlines... short term.
Apart from Dollar's weakness , breakout has been identified to the downside , bollinger n ema's also suggest further downside in 1hr 4 hr and daily timeframe . Price may retrace towards resistance and trendline which may give us good opportunity for 1 more entry of sell.
Price is in Upward Channel in 30 Min chart , ichimoku also supports long position