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Nzd-cad

NZD/CAD 1H Chart: Channel up prevailsA descending channel has confined NZD/CAD since late August. The latest test of its bottom boundary occurred on November 17 when the New Zealand Dollar reversed to the upside and formed a channel up. In line with this pattern, the pair should still appreciate up to the 0.89 area where the upper boundaries of this pattern and the senior one are located. However, the Kiwi faces a significant resistance cluster set by the weekly and monthly PPs and the 200-hour SMA in the 0.8780/0.8800 territory. As suggested by technical indicators, this might mark a point of reversal. In this case, the Kiwi is likely to breach the channel up and continue trading in a newly-formed one-day channel down towards the bottom boundary of the senior pattern. The nearest support of significance is the 55-hour SMA at 0.8720; the weekly and monthly S1s are likewise located nearby circa 0.8670.
Short
by UnknownUnicorn890690
NZD/CAD Daily Update (10/10/17)Price is approaching a critical support zone - 0.88 I am looking for a possible long trade and swing it back to the resistance level. Disclaimer : This analysis does not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose.
Long
by sonicrmastery
NZDCAD armonic shark pattern @ 0.9105 or 0.9230After a new bullish trend stars, I think that still going up at least to 0.9105 completing the shark pattern. First we got to wait for the pullback to the green zone fot take a long trade. There is a key zone at 0.9105/10 where is the daily resistance. if price brekeout thar zone, we can go to 0.9230 for complete a larger shark pattern. I hope that you can take this trade. For more information, and exactly entries, yo can follow our telegram channel. @TDFreeChannel
Long
by TradeDistrict
NZD/CAD long setup- NZD/CAD has shown a decisive break above 20-DMA, currently hovers around 50-DMA at 0.8855 - RSI biased higher, gaining upside traction at 56 levels - Stochs are biased higher, momentum studies are bullish - We see bullish divergence from price action on RSI and Stochs Support levels - 0.8787 (20-DMA), 0.8785 (5-DMA), 0.8740 (Sept 12 low) Resistance levels - 0.8905 (23.6% fib retrace of 0.87581 to 0.86417 fall), 0.8929 (Nov 1 high), 0.90 (100-DMA) Good to go long on breakout above 50-DMA at 0.8855, SL: 0.8785, TP: 0.89/ 0.8930/ 0.90.
Long
by FxWirePro
NZD/CAD 1H Chart: Kiwi tests medium-term patternThe pattern that has dominated the NZD/CAD currency pair for the last three months is a descending triangle. The rate was respecting the boundaries of this pattern for some time. However, this situation changed early in November when bulls failed to reach the upper boundary of this medium-term pattern. From this point forward, the pair has been stranded in a descending channel. Meanwhile, the Kiwi is testing the lower triangle boundary circa 0.87. It is likely that this level surrenders and allows for further decline down to the monthly S1 and the weekly S3 at 0.8660. The pair’s subsequent movement is expected to be north, as the rate should approach the upper line of either channel or triangle. Conversely, in case the 0.8660 mark is breached, the next support is the distant weekly S4 at 0.8593.
by UnknownUnicorn890690
NZDCAD short for month of NovemberNZDCAD broke the moving average, suggesting a potential trend change. This in tandem with October's monthly bear candle gives me enough reason to believe a down trend is about to begin. My orders are placed at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6. and 0.0. Each order contains a 30 pip stop loss and no take profit target. These trades are designed to have 3 different exit strategies: 1) Stop out. 2) Manual closure. 3) End of month manual closure. * End of month manual closure means that the month is over and trade parameters are no longer valid, therefore I will close the trades manually.
Short
by BACapitalManagement
NZD/CAD 1H Chart: Kiwi at crossroadsNZD/CAD is being guided by three patterns, namely, two descending channels and a short-term channel up. The pair is currently moving along the upper boundary of the five-month channel circa 0.8975. The two other patterns, however, imply that the Kiwi should still strengthen against the Canadian Dollar within the next week up to the psychological 0.90 mark. Thus, two scenarios should be examined. On the one hand, the rate could find support at the 55– and 100-hour SMAs and the weekly PP and appreciate up to the aforementioned 0.90 level and subsequently form a retracement from the long-term channel. This scenario is more probable, especially if the rate remains sticky to this long-term channel. On the other hand, the pair could reverse to the downside and target the weekly S1 at 0.8667 during the following trading days.
by UnknownUnicorn890690
NZD/CAD Daily Update (31/10/17)Looking at 0.885 as a nice resistance Price could visit the support at 0.865 Bear still has some power in it. Disclaimer : This analysis does not include personal feeling/opinion, and pure base on technical analysis Trading foreign currencies can be a challenging and potentially profitable opportunity for investors. However, before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose
Short
by sonicrmastery
Long NZDCADSince last month's candle was a bull candle, I am looking for bull moves on the daily time frame such as this one. Price broke through the moving average. This suggests a possible move even higher. My pending orders sit at fibonacci retracement levels 1.0, 78.6, 61.8, 50.0, 38.2, 23.6, 0.0. Each order has a stop loss of 30 pips. Risk is less than 2% per trade. No take profit target is set for this trade. The ways in which I will exit the trade is by stop out, manually closing at my discretion, or holding until the end of the month.
Long
by BACapitalManagement
NZD/CAD short setupKiwi continues to remain under pressure, is likely to extend weakness in the wake of the electoral results. NZD/CAD has been in a long term bear trend and recovery attempts were rejected at 50-DMA. Technical studies are bearish, we see scope for further downside. 0.87 offers strong support for the pair. It is convergence of two major trendlines. Break below to accentuate weakness. Scope then for test of 0.8610 (2017 lows) ahead of 78.6% Fib at 0.8596. We see bearish invalidation only on break above 50-DMA currently at 0.8939. Bank of Canada meeting is the key risk event. Markets expect no change in rates and a dovish message taking into account the latest round of data. Support levels - 0.8980 (23.6% Fib retrace of 0.9758 to 0.8740 fall), 0.8923 (5-DMA), 0.8880 (Sept 27 low) Resistance levels - 0.8995 (50-DMA), 0.9084 (Sept 20 high), 0.9129 (38.2% Fib) Good to go short on break below 0.87, SL: 0.8775, TP: 0.8610/ 0.8595/ 0.8520.
Short
by FxWirePro
NZDCAD - The Ugliest Butterfly You've Never SeenAbove you can see a very only-shaped butterfly ; price isn't exactly flowing from each co-ordinate to the next but the ratios fit the bill, so it's a butterfly . The reason I am at least considering taking this trade is the level of support- you can see in the update below that price is at a key level of weekly support/resistance . Furthermore, the daily trend line has been broken (before price subsequently dropped after the NZD government announcement). Bearish in mind that price goes through cycles of trending, then consolidation before making new trend, the false break of the daily trend line could be a sign of the beginning of a consolidating market for this pair. And I don't have to tell you which types of markets harmonic patterns work best in! Butterfly ratios: X:B = 78.6% A:C = 38.2:88.6% B:D = 1.618-2.24% X:D = 127.2%
Long
by KyleMcQuade