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Nzd-cad

NZDCAD 60 TF Potential Cloud Bounce or Channel tradeMonthly and Daily Time frames are bullish Have a pullback to the Senkou A (top of the cloud) which is very strong support area. the prior 2 candles 1am and 2am est. were indecision candles unable to push the market down. 2 Potential trades: 1. Cloud Bounce: A. If we get a Bullish engulfing candle off of the cloud we can enter the trade. Entry = approximately = 0.9130 Stop = .9077 (10 pips below the Senkou B - bottom of the cloud) Risk = approximately 53-60 pips Profit target: .9207 (10 pips before the Daily D ext. Blue line on chart) Reward = 77 pips RRR = approximately 1.5 - 1 2. Channel Trade: If price penetrates the cloud, place buy limit orders at the Senkou B (bottom of the cloud) This is a great support level and will provide at the very least a short term bounce back to the top of the cloud or possibly a continuation upto the Daily D ext. Entry = .9087 Stop = .9067 Risk = 20 pips Profit targets: 1st= .9117 RRR = 1.5-1 2nd= .9207 (10 pips before the Daily D ext. blue line on chart) RRR = 6 -1 :) ** depending on the strength of the move up, you may want to move your stop to flat at the first pt. and let it run to the 2nd pt.
Long
by AGold54
2
NZDCAD approaching resistance, potential drop!NZDCAD is approaching our first resistance at 0.9228 (horizontal swing high resistance, 76.4% Fibonacci retracement, 100% Fibonacci extension) where a strong drop might occur pushing price down to our major support at 0.9061 (100% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is also approaching resistance and seeing a bearish divergence 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
NZD/CAD ShortLooking at a short pullback into weekly support and retest of trendline breakout zone. The NZD bullish impulse wave has been pretty extended and was strong enough to break through the weekly trendline to the upside but I don't think it can continue much farther without a slight pullback. I have a bullish bias long term on this pair but I would like to see it exhaust some of its current momentum and retest some support levels to accumulate more buyers before continuing its move up. -Solid black lines are weekly levels support/resistance (major) -Dotted black lines are daily levels support/resistance (minor) Membership signal blog and Ebooks: www.GratefulChartArtist.com
Short
by davistradingforex
Long NZD/CAD above 0.86The pair has paused upside, finds stiff resistance at 55-EMA and daily cloud at 0.86. Break above 0.86 handle could propel the pair higher. Next major resistance lies at 110-EMA at 0.8712 ahead of 38.2% Fib at 0.8778. Technical analysis shows bullish bias. Price has broken and holds above 5-DMA and finds strong support at 20-DMA. RSI and Stochs are biased higher and MACD supports upside Support levels - 0.8546 (5-DMA), 0.8535 (21-EMA), 0.8468 (Oct 24 low) Resistance levels - 0.86 (daily cloud, 23.6% Fib and 55-EMA), 0.8658 (Oct 19/ 22 high), 0.8778 (38.2% Fib) Stay long on break above 55-EMA, SL: 0.8530, TP: 0.8660/ 0.87/ 0.8775
Long
by FxWirePro