Buy to .94 (Bullish Engulfing)Bullish Engulfing candle on the upside
Expecting price to move upward to .94 for a consolidation move
Price got rejected at the .989 3 times
Nzd-cad
NZD/CAD 1H Chart: Consolidation near channelThe New Zealand Dollar has lost 2.98% against its Canadian counterpart during the past two weeks. This movement south has guided the pair in between the boundaries of the senior channel. The pair has been rather steady for the last week and it has been fluctuating around the 0.9350 mark.
Given that the Kiwi has reached the bottom boundary of the senior channel near 0.93, the pair is likely to continue moving higher within the following trading sessions. Rapid appreciation is unlikely in this scenario, as the nearest resistance is formed by the 55, 100– and 200-hour SMAs circa 0.9350. The given scenario is supported by technical indicators which point to a surge within this week.
It is expected that the upper boundary of the senior channel is not reached, thus setting the ten-year high of 0.9520 as a possible upside target.
NZDCADThis symbol represents the New Zealand Dollar - Canadian Dollar cross pair. These two currencies are both categorized as commodity currencies. Canada is primarily associated with oil and lumber, conducting significant trade with the United States. New Zealand is more associated with agricultural commodities and exports dairy and meat products to Australia and China.
SHORT NZD/CAD NAFTA MS TRADECAD should outperform NZD over the coming weeks. Constructive NAFTA news suggests that the US may be getting closer to an acceptable agreement with its trading partners, which should lead to a continued re-pricing of the trade risk premium. Risks to a more dovish RBNZ continue, with the new Policy Targets Agreement likely to add a second employment mandate and potentially offer specific language on the currency. Data in NZ also remain uncompelling, including the business PMI and GDP. Positioning also favors the trade, with the market remaining long NZD while CAD sentiment is net bearish. A risk to the trade is a dovish shift from the BoC, leading to CAD weakness. - Morgan Stanley
NZD/CAD sell updateNcad came off .786 fib and has now broken out of ending diagonal... I will just make a short video and post it on my channel to better explain how to go about trading it. I've posted a couple sell entries I believe. Entering right now not the smartest entry point, it can go down a lot more but we should get a larger correction before BIG drop. You may get some flags to sell some more this week. These diagonals will very often at least reach high of wave 1 (see blue ray lines), but we should get 1 more buy for the correction. I can't explain it properly in text.
NZD/CAD 1H Chart: Bearish in medium termUpside risks have dominated the NZD/CAD exchange rate, thus resulting in the pair climbing 5.50% within a couple of weeks. The latest peak was reached last week when the Kiwi reversed from an eight-month high of 0.9517. It has since traded lower in line with senior and junior channels.
Technical indicators on longer-term time-frames suggest that the same bearish momentum is likely to prevail in the medium term, as well.
Meanwhile, the same indicators on the one-hour chart are located near the oversold area. This suggests that some short-term correction might be under way. A possible point of reversal could be the 0.9430 area where the 200-hour SMA and the weekly PP are located. Gains are expected to be capped near the weekly and monthly R1 at 0.9540.
In case this correction north does not occur and the longer-term moving average is breached, a possible downside target for the following week should be the 61.80% Fibonacci retracement at 0.9335.
NZD/CAD 1H Chart: Bearish signals dominateThe New Zealand Dollar has been strengthening in an ascending channel against the Canadian Dollar during the past five weeks. This pattern is a part of a more senior channel whose upper boundary is located nearby circa 0.9440.
Taking into account the highly-positioned technical indicators, it seems that the Kiwi might decline this week and even beyond in line with both patterns. The nearest downside target is the bottom boundary of the junior channel circa 0.93—a level that could coincide with the 100– and 200-hour SMAs and the weekly PP.
This point could mark some slight correction upwards, but it is still expected that this bearish sentiment resumes its dominance until the lower boundary of the senior pattern is reached in early April.
NZD/CAD long setupNZD/CAD has shown a decisive break above 200-DMA at 0.9111, bias bullish.
The pair is trading in a rising channel and we see scope for test of channel top at 0.9290.
Technical indicators support higher, momentum studies are bullish and we see +ve DMI dominance.
Breakout at channel top can propel the pair higher. Scope then for test of 61.8% Fib at 0.9331 ahead of 0.9416 (July 27 high).
Immediate support lies at 5-DMA at 0.9142, break below could see re-test of 200-DMA.
Breach at 200-DMA support at 0.9111 invalidates bullish bias.
Support levels - 0.9142 (5-DMA), 0.9111 (200-DMA), 0.9097 (20-DMA)
Resistance levels - 0.9295 (channel top), 0.9331 (61.8% Fib), 0.9416 (July 27 high)
Good to go long on dips around 0.9180/90, SL: 0.91, TP: 0.9295/ 0.9330/ 0.94.
NZDCAD - Intraday IdeaEntry - .94150
SL- .94700
TP - .93500
TP - .92700
TP - .92000
Red Dotted lines are temporary S&R levels
Orange lines are more well respected S&R levels
NZD CAD Shlong ;-) For a long and continuation in trend direction I would like to see that price bounce from the s/r zone + the trendline (double confirmation) could be tricky to play but that depends on price action we will see in this area .
Alternative i have the short scenario on my list with a valid break n close below the s/r zone + trendline (again double confirmation) .
But at the moment this looks like a clear uptrend with Higher Highs and Higher lows to me and as long as we stay above s/r zone and TL we have no signs of a shift in trend .
We have Higher Highs and a healthy uptrend now what COULD happen is price breaks down the s/r and TL starts to retest the s/r zone from below gets rejected and shows us the first lower high in a while and a clear sign for a change in trend direction.
But remember this is prediction and we dont want to predict we just want to react to a situation thats why i have always both price directions in my mind and all possible moves i show are just IF THEN scenarios .
NZDCAD BullishWith disappointing news about CAD retail sales earlier and oil continues to fall, while NZD's TPP deal is expected to boost New Zealand's GDP growth, riding the current bullish trend for this pair, with TP near 95 and SL between R1 and base pivot lines (H1).
www.poundsterlinglive.com
www.reuters.com
news.torfx.com
Daily:
Weekly:
Confidence: A (but must still be careful about getting whipsawed because pair might consolidate instead if there's another geopolitical news about oil)
NZD/CAD Daily Update (22/2/18)More upside should price close above 0.93
Support at 0.925, next resistance at 0.94
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation.
SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
NZD/CAD Daily Update (14/2/18)Price breaks above resistance.
Previous resistance turn into support
bullish sentiments.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation.
SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
NZD/CAD 1H Chart: Bearish sentiment expected to prevailThe New Zealand Dollar has been trading in a rising wedge against the Loonie for four months. The pair has likewise formed a short-term channel up valid since early January. The rate’s failure to reach the upper wedge boundary last week suggests that a possible breakout from the wedge might be due and, given that this senior pattern was entered from above, a breakout south is the most likely scenario.
If looking at today’s trading session, the pair was testing the strong support of the 55– and 200-hour SMAs near 0.91. The Kiwi might hinder near this level within the following trading hours; however, the general tendency should nevertheless be southwards towards the 23.60% Fibo retracement and the bottom boundary of the senior wedge circa 0.9060.
In case the 0.91 level holds, the nearest upside target for the following sessions could be the six-month high of 0.9180.
NZD/CAD H1 Predictions for overnight priceaction.Looking foward, NZD/CAD has found support around 0.9015. With level 3 Divergence present on the RSI, i can feel confident in this trade. On a bigger time frame (H4, D1), we can see a diverging Double Top signaling a short, with Market Makers in mind, i can see this making a third push to the high to trap long breakout traders and stop out those already short. Will be holding long to 0.9150
NZD/CAD Daily Update (23/1/18)The bullish-ness shall continue.
However, one should chase with care as price has already makes its move.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation.
SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
NZDCAD: Risky At These LevelsQuick setup could arise if NZDCAD heads down to one of those trendlines for a 3rd bounce and/or a final wave up. I see little opportunity to the upside if entering long in this area. However, I will not open a short in anticipation of a dip lower for liquidity as these moves sometimes randomly break up and continue making new highs. If price heads lower and stalls around one of those areas of interest, a long position can be opened w/ a relatively tight stop.
NZD/CAD 1H Chart: Kiwi weakens from five-month highThe New Zealand has appreciated substantially against the Canadian Dollar since early December, thus forming an ascending channel. This pattern is a part of a senior channel whose upper boundary circa 0.91 was tested on January 11; this mark is likewise a five-month high.
The Kiwi has since reversed from the given area and initiated trading lower. If looking at the pair’s movement within the following two weeks, it should approach a trend-line near the 0.8960 mark.
Meanwhile, technical indicators suggest that the rate might still appreciate today. However, it does face a significant resistance cluster formed by the 55– and 100-hour SMAs and the monthly R1. Thus, the base scenario favours a minor price increase until 0.91 where the bearish sentiment should take the upper hand and prevail for several sessions.
NZD/CAD Daily Update (12/1/17)0.895 as support zone
Any retrace back to that zone would qualify as a low risk entry trade.
no point chasing the price now.
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation.
SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
