The NZD/CAD pair remains under pressure, currently hovering near the 0.8100 level, with clear signs of continued weakness. Here’s why the bearish sentiment prevails:
1️⃣ Weak Supply Zone: The pair is struggling to hold above the supply area, signaling a lack of buying momentum.
2️⃣ Bearish Structure: The market has been forming consistent lower highs and lower lows, confirming sellers are firmly in control.
3️⃣ Momentum Favors Bears: Indicators show strong bearish momentum, with no signs of reversal or bullish divergence.
4️⃣ Fundamental Factors: NZD faces additional pressure from a risk-off market environment and CAD strength driven by oil prices and broader market stability.
💡 Trade Plan:
🟢 Take Profit 1 - 0.80378
🟢 Take Profit 2 - 0.79516
🟢 Take Profit 3 - 0.78626
🚫 Stop Loss - 0.81942
If you don't know how to trade with multiple Take Profit targets, comment below
1️⃣ Weak Supply Zone: The pair is struggling to hold above the supply area, signaling a lack of buying momentum.
2️⃣ Bearish Structure: The market has been forming consistent lower highs and lower lows, confirming sellers are firmly in control.
3️⃣ Momentum Favors Bears: Indicators show strong bearish momentum, with no signs of reversal or bullish divergence.
4️⃣ Fundamental Factors: NZD faces additional pressure from a risk-off market environment and CAD strength driven by oil prices and broader market stability.
💡 Trade Plan:
🟢 Take Profit 1 - 0.80378
🟢 Take Profit 2 - 0.79516
🟢 Take Profit 3 - 0.78626
🚫 Stop Loss - 0.81942
If you don't know how to trade with multiple Take Profit targets, comment below
Note
Take Profit 1 - Reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 6 years in the financial markets! Join my Telegram for exclusive insights.
Telegram Link: t.me/charts_M7M
Telegram Link: t.me/charts_M7M
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.