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Cadnzdforecast

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.
by trading_jupiter
CADNZD Bullish Momentum Detected - Actionable Analysis InsideCADNZD is currently demonstrating a robust bullish momentum within a significant support zone, coupled with adherence to an ascending trendline, suggesting a favorable bullish trajectory. This analysis delves into key technical indicators to assess potential trading opportunities. Key Technical Factors: 1. Bullish Momentum: CADNZD exhibits a notable bullish sentiment, underscored by a sustained upward movement. This momentum is indicative of a strengthening buying pressure within the market. 2. Support Area: The currency pair has encountered a key support zone, reinforcing the bullish bias. The confluence of buying interest at this level further bolsters the potential for upward price movement. 3. Bullish Trendline: The presence of a bullish trendline underscores the continuity of the upward trajectory. The adherence to this trendline serves as a technical validation of the bullish sentiment prevailing in the market. Trade Recommendation: - Entry Point: Initiate long positions near 1.2255 to capitalize on the ongoing bullish momentum. - Stop Loss: Place a stop loss order near 1.228 to mitigate potential downside risks and protect capital in the event of an adverse price movement. - Take Profit Targets: - TP-1: Set the first take profit target at 1.2314 to secure profits as the price continues its upward journey. - TP-2: Aim for a secondary take profit target at 1.2358 to capitalize on further bullish momentum and maximize gains. Risk Management: It is imperative to exercise prudent risk management strategies, including the use of appropriate position sizing and adherence to stop loss levels, to safeguard against unexpected market fluctuations. Conclusion: In conclusion, CADNZD presents a compelling bullish opportunity supported by strong momentum, a key support area, and adherence to a bullish trendline. Traders are advised to consider the aforementioned trade parameters and exercise diligence in managing risk while pursuing potential profit opportunities in the market.
Long
by trading_jupiter
CADNZD H1 LONG PRICE ACTION FORECAST The CADNZD was under the bearish domain was able to reverse and break through the strong resistance zone. I could expect a pullback and retest of the critical region to further bullish continuation, allowing the placing of a long entry with the following characteristics. The order: Type: buy-limit S/L: 22 pips - R:R | 1:2.5 - T/P: aiming towards the trendline confluence area -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADNZD H4 SHORT PRICE ACTION FORECAST With the price action approaching an old support level from last year's April, we could expect a pullback before getting enough force to continue its downward movement. To the previous demand zone, this pullback will encounter a short entry to capture the bearish momentum ahead. The order: Type: sell-limit S/L: 41 pips - R:R | 1:3 - T/P: aiming towards the previous high from the right shoulder formation happened last month -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADNZD H4 LONG PRICE ACTION FORECAST From a higher time frame, specifically W1, the price action has reached the ascending channel's support line. The price structure should now continue to the upper-level resistance. Now, diving into the price structure at H4 to get an entry-level, it is possible to realize that we need to wait for the breakout of the descending trendline before making any decision. In case the breakout happens, a retest should mark the crucial and reliable entry point to capture the forthcoming bullishness with the pair. The order: Type: buy-limit S/L: 61 pips - R:R | 1:3 - T/P: resistance level -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADNZD H4 SHORT PRICE ACTION FORECAST With the price action trending into a descending channel and bouncing from the 18 EMA, a short entry can capture the bullishness with the New Zeland dollar. With an expected pullback to the previous support level, the following order is placed The order: Type: sell-limit S/L: 40 pips - R:R | 1:3 - T/P: aiming towards a previous support level. -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Short
by OGFXTRADER
CADNZD H4 LONG PRICE ACTION FORECAST The Canadian dollar has been into a consolidation mode, with CADNZD recently bouncing from a low level from December 2019 and experiencing a price compression, an uptrend breakout is most expected. It is allowing the placement of a buy order to capture the forthcoming upward momentum. The order: Type: buy-stop S/L: 73 pips - R:R | 1:3 - T/P: aiming towards the previous demand zone -- *** If you like the idea, don't be shy, click on like and comment. If you do not agree, just comment ;-) | Thanks for your support!!! ***
Long
by OGFXTRADER
CADNZD H4 SHORT PRICE ACTION FORECASTPrice action under bearish pressure has reached a strong support level, now expecting the price to pullback will allow a sell-limit entry order. However, if the price action can manage the breakout of the current level setup, it will be changed to the same sell-limit. Still, entry at the current level, expecting the used retest of the level before downtrend continuation. S/L: 130 pips - R:R | 1:2.2 - T/P aiming to support the red dotted line's level.
Short
by OGFXTRADER