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Nzd-cad

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 * End of month manual closure means that the month is over and trade parameters are no longer valid, therefore I will close the trades manually.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 imjmesl
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
NZD/CAD breaches junior channelThe New Zealand Dollar is trading in two opposing channels against its Canadian counterpart. The senior pattern was formed mid-September when the Kiwi started to create distinctive waves up and down. Its last moment upwards was likewise stranded between two channel lines. The rate peaked at 0.9020 and was subsequently dominated by bears. The rate continued to plunge early on Wednesday and thus broke out of the junior pattern. It is likely that this fall is stopped at the weekly PP and the 200-hour SMA circa 0.8915, as technical indicators have already been pushed into the oversold territory. The base scenario favours the rate recovering from its intraday losses and thus returning near the bottom boundary of the junior channel, the 100-hour SMA and the 50.0% Fibonacci retracement circa 0.8650. In the medium term, however, the rate should push for the lower boundary of the senior pattern located near the monthly S1.
Short
by UnknownUnicorn890690
NZD/CAD trades in symmetrical triangleThe New Zealand Dollar has formed a medium-term symmetrical triangle against its Canadian counterpart. The rate is gradually diminishing its trading range and might be near a breakout point. Meanwhile, the last two waves have formed a descending channel. As apparent on the chart, the latest depreciation of the Kiwi is being slightly hindered by a strong support area set by the 23.6% Fibonacci retracement, the 55– and 200-hour SMAs and the weekly PP. The following hours will demonstrate if this level is to be breached. If yes, the rate should approach the 0.8940 mark where the lower triangle boundary is located. This line is also likely to break under the pressure to pave the way towards the lower channel boundary. Conversely, the failure to move below the 0.8980 should send the pair towards the upper triangle boundary; however, the aforementioned bearish scenario should eventually prevail.
by UnknownUnicorn890690
NZD/CAD Follow the trend!PRO TIP! Hi boys! There are some pairs that just follow trends and this is one of them. Keep following the trend. Elliots within elliots. HHs and HLs are developing. Don't trade when its in consolidation and around fundamentals. Use Fibonacci to know when to TP. Never go against the trend and always put a tight stop loss just below the previous low. If your stop loss hits who cares. Keep repeating. You will win more than you lose, but even if you win 50% of the time you will be successful because the average RR ratio with this method is 1.9. :)
by minthooka