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Nzd-cad

NZDCAD buy opportunity, SHS formingThe NZDCAD pair broke above a long-term trendline which has started in late 2016 and formed what looks like an inverse SHS pattern. A daily close above 0.9300 would mark the pattern as triggered and confirm a buy setup. This week's RBNZ rate meeting will likely create volatility in NZD pairs and either confirm our bullish bias or put the trade on hold. Like our analysis? Please hit the "Like" button and let us know your views in the comment section. Join us on Telegram -> t.me
Long
by MujkanovicFX
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.9236 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 0.9074 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.9236 (horizontal swing high resistance, 61.8% Fibonacci extension, 76.4% Fibonacci retracement) where a strong drop might occur below this level to our major support at 0.9074 (horizontal swing low support, 100% Fibonacci extension, 50% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by Tickmill
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.9240 (horizontal swing high resistance, 76.4% Fibonacci retracement, 61.8% Fibonacci extension) where a strong drop might occur below this level pushing price down to our major support at 0.8981 (horizontal swing low support, 76.4% Fibonacci retracement). Stochastic (55,5,3) is also approaching our first resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
NZDCAD Potential ShortWeekly - as we can see NZD has been on a downtrend since November 2016 and has been respecting the descending trendline on separate occasions and on every-time it has reversed heavily. NZDCAD is approaching a key level and double top region, the last price has broken through this area was 11 months ago in march, since then it has been rejected 6 times and we are approaching the 7th attempt Daily - on the daily price has been ranging since the start of the year then price broke out last week and has been very bullish for 3 consecutive days. we now see price hitting our descending weekly trend line and the weekly price zone in red What We Are Looking For - we want to price to enter and reject this red zone and yellow circle to show that sellers are active. and then we want to see sellers take full control. by reject I would expect multiple candles with very large wicks and small body's Fundamentals - NZD PMI and CAD new house pricing on Thursdays which is only medium volitility so it should not effect our charts to much
Education
by nryan92
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.9120 (horizontal swing high resistance, 61.8% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur below this level pushing price down to our first support at 0.9021 (61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
Short
by easyMarkets
COULD NZDCAD OFFER SIGNIFICANT LONG TERM UPSIDE MOVE?Hi Traders, The 4-hour chart of NZDCAD shows a bullish move from October 2018 as a classic five-wave impulse in wave (A) "black." According to the Elliott Wave theory, a three-wave correction in the opposite direction follows every impulse pattern. And indeed, the rest of the chart reveals an A-B-C zigzag correction in wave (B) that rejected the 38.2 Fib ratio and support level so far. . If this count is correct, there is a complete 5-3 cycle to the upside, and this means another five-wave bullish impulse can be expected in wave (C) from now on. . Given that the bulls already made the first impulse in wave 1 of (C), and we have a three-wave a-b-c regular flat pattern in wave 2 of (C) that reversed from 78.6 Fib ratio, a bullish continuation is expected in 3 of (C) whose potential target lies between 1.618 - 2.618 as planned on the chart. . The Friday's bullish engulfing candle on the Daily chart further confirm the completion of wave 2 correction and could be used as a signal to enter the bullish setup. Safe Trading! Veejahbee.
Long
by Veejahbee