NZDCAD DROP?Signal NZDCAD Sell Limit @ 0.91280
SL: 0.91600 (32 Pips)
TP: 0.89800 (148 Pips)
4.63R
Analysis: Entry based off Daily pivot/38.2% Retracement. Stop based a bit higher than 78.2% retracement. Weekly 50% Retracement hit, multiple daily candles failing to bring price higher. Breach of Bull trend channel. Price has been forming distribution and target is 50% level, significant structure on HTF. Strong H4 RSI Divergence. Reversal trade.
Nzd-cad
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.8508 (Horizontal overlap resistance, 23.6% fiboancci retracement) and a strong drop might occur pushing price down to our major support at 0.8429 (61.8% Fibonacci extension).
RSI (89) is also seeing a bearish exit and 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.
NZD/CAD Long- Strong NZD/weak CAD [BTFD]CAD has lost some power recently while NZD gaining strength
looking to long the New Zealand Dollar against the Canadian Dollar
indicators showing bullish signs, COP into bull and not overbought, AO indy moving up into bull area, while the VIX FIX is winding down ready for more volume and change of direction again bullish
im looking for price to come under the P value 0.850-0.853 area
First target is S3, maybe can go higher and left room on the trade to do so
good trades to all
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NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.8595 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) and a strong drop might occur below this level pushing price down to our major support at 0.8463 (horizontal swing low support, 50% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and seeing a bearish divergence and 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
EURUSD tests support at 1.1500 !The EURUSD story is unfolding exactly as expected and discussed lately. It is seen to be testing the support zone projected yesterday between 1.1500/30 levels, and probable bullish reversal likely from here. Looking into the immediate wave structure, a lower degree wave i and ii now seem to be in place with potential termination (for wave ii) at 1.1490/1.1500 levels. Please also note that prices are reversing from a fibonacci 0.618 support of wave i (between 1.1432 and 1.1620). Projected immediate target could be seen at 1.1800/50 levels, going forward. Overall, the short term bullish scenario remains for EURUSD.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
AUDNZD Approaching Resistance, Potential ReversalAUDNZD is approaching its resistance at 1.09008 (61.8% Fibonacci extension x2, 50% Fibonacci retracement, horizontal overlap resistance) where it could potentially reverse down to its support at 1.08593 (50% Fibonacci retracement, horizontal overlap support). Stochastic (89, 5, 3) is approaching its resistance at 96% where a corresponding reversal could occur.
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.8510 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 0.8374 (horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (55,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDCAD approaching resistance, potential drop! NZDCAD is approaching our first resistance at 0.8519 (horizontal pullback resistance, 50% Fibonacci retracement, 100% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.8374 (horizontal swing low support, 76.4% Fibonacci retracement).
Stochastic (89,5,3) is also approaching resistance and we might see a corresponding drop in price should it react off this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
NZDCAD: Target hit. 1W Channel Down intact. Buy the Low/ Sell thTP = 0.84500 hit as the 1D Channel Down (RSI = 42.903) made a new Lower Low at 0.8324. With the 1W Channel Down intact (MACD = -0.015, Highs/Lows = -0.0163, B/BP = -0.0485), NZDCAD should rebound for a Lower High either at 0.85500 (1D Lower High - more likely) or 0.87500 (1W Lower High - less likely). Both are solid long term short entries. We will be taking those opportunities to sell with TP = 0.8200.
EURUSD needs to clear above 1.1750 to confirm Wave C higherThe EURUSD rallied to test Friday highs yesterday and is seen to be trading around 1.1702 levels t this point in writing. Keeping the bigger picture intact, we are expecting a 3 wave corrective rally A-B-C, since bottom formation at 1.1300. Looking into the wave counts, Wave A looks to be complete at 1.1733 levels earlier, and potential Wave B might have terminated at 1.1526 levels. We are still keeping the alternate count for a more complex Wave B possibility to terminate around 1.1470 levels, before Wave C could resume higher. A consistent push above 1.1730/50 would confirm that Wave C is set to accelerate further. Overall, EURUSD bullish structure stays.
Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
GBPJPY appears overboughtThe Tidal Shift Strategy has just bought EURUSD at 1.1638. The system recommends entering this trade at any price between 1.16215 and 1.16545. The signal was issued because our Speculative Sentiment Index has hit its most extreme negative level for the past 145 trading hours at -1.68557, which suggests that the EURUSD could be trending upwards.The 14-period Average True Range on a daily chart is 0.00132, so the stop loss has been set at 1.15719. This stop loss order is a trailing stop that will move up as the market moves up. There is no profit target for this strategy. We expect to be closed by the stop loss.Tidal Shift is a trend trading strategy that aims to catch shifts in trend using trader sentiment as an indicator. The strategy looks to buy when the Speculative Sentiment Index reaches its lowest value for the past 145 trading hours, and looks to short when it reaches its highest value for the past 145 trading hours.
Signal ID: 58823
Time Issued: Thursday, 13 September 2018 20:00:16 GMT
Status: open
Entry: 146.444 - 147.096
Limit: N/A
Stop Loss: 148.076
NZDCAD approaching resistance, potential drop!NZDCAD is approaching our first resistance at 0.8560 (horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.8500 (horizontal swing low support).
RSI (34) is also approaching our descending resistance line and a reaction below this level 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.
NZDCAD approaching resistance, potential drop!NZDCAD is approaching our first resistance at 0.8562 (horizontal pullback resistance, 23.6% Fibonacci retracement, 61.8% Fibonacci extension) and a strong drop might occur below this level pushing price down to our major support at 0.8422 (61.8% Fibonacci extension). Ichimoku cloud is also showing signs of bearish pressure in line with our bearish bias.
RSI (89) is also seeing a bearish exit and 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.
Awaiting for 1D break-out. Overall bearish: 1W Channel Down.NZDCAD is trading within a 1D Channel Down (MACD = -0.004, B/BP = -0.0015) that has however just made a Lower High (RSI = 48.054, Highs/Lows = 0.0000). If 0.87200 breaks then the underlying 1W Channel Down (RSI = 37.794, MACD = -0.010, STOCH = 21.859, ROC = -3.915) that has been dicating the bearish trend since March, will rise to price its own Lower High near 0.8900. That will be the ideal place to short (TP = 0.84500). On a different occasion (0.87200 doesn't break), continue shorting towards 0.84500.
NZD/CAD short opportunity Technical Analysis: Bias Bearish
- Price action has failed to extend break above 21-EMA
- Pair slips below 5-DMA, 5-DMA has turned south
- Major EMAs are downward sloping and price below daily cloud
- RSI below 50 and biased lower, MACD well below zero mark
Fundamental View:
- Markets will be watching out for New Zeakand August business confidence data due later this week.
- The Reserve Bank of New Zealand (RBNZ) has cited weak investment intentions as a reason for a more subdued outlook for the New Zealand economy.
- RBNZ Gov Orr, at the Jackson Hole, reiterated that the central bank intends to hold policy rates low for an extended period of time which is likely to keep a lid on the Kiwi dollar.
Support levels - 0.8641 (Nov 17, 2017 low), 0.8561 (Aug 15 low), 0.8555 (trendline)
Resistance levels - 0.8679 (5-DMA), 0.8716 (21-EMA), 0.8761 (Aug 22 high)
Good to go short on upticks, SL: 0.8720, TP: 0.86/ 0.8565/ 0.8555