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NZDCAD

NZDCAD - Oil Price On The Rise, Could Mean A Bullish CAD!Analysis: Firstly just by looking at the charts we're able to tell that price is in a downwards trend. We've seen a series of lower lows and lower highs being formed confirming that we are in this downwards trend. We're now approaching a key level that has held as support and resistance multiple times so we expect this to happen again this time around. To add confluence to our area price is about to touch the 50% fib retracement level which we expect sellers to be sat at wanting and willing to enter into short positions pushing price down further. For more added confluence even though our trendline isn't at the area we're interested in it is still key as it shows that price is respecting this downwards trend that we're in, signifying that price is likely to hold the level we're at currently. Fundamentally the NZD is the 4th strongest major currency where as the CAD is the 2nd weakest major currency. This fundamentally really doesn't look good for our setup however if we dig a little deeper we'll see why we actually favour the CAD over the NZD. We have a speculation that oil prices will soon be on the rise again. Now why does this matter? Well Canada is the 4th largest oil distributer in the world meaning that the CAD is very often correlated to oil prices. If we see oil prices rise then so will the CAD. With our speculation on oil it starts to show early signs of a bullish CAD which is why we are bearish on NZDCAD both technically and fundamentally as well. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx
NZDCAD - 4hrs ( Buy Trade Target Range 180 PIP ) Pair Name : NZD/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Break 0.81800 Area reasons - Major Turn level - Visible Range Lvn - Inner Channel Break - Major Channel Lower Band - Month Low Area Bearish Reversal 0.83750 Area Reasons - Major Turn level / D - Patter inner Target - Quarter Low Area - Visible Range Hvn / Value
Long
by GoldenEngine
4
NZD/CAD What Next? BUY! My dear followers , Please, find my technical outlook for NZD/CAD below: The price is coiling around a solid key level - 0.81693 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 0.82026 About Used Indicators: The pivot point itself is simply the average of the high, low and closing prices from the previous trading day. ——————————— WISH YOU ALL LUCK
Long
by AnabelSignals
2
NZDCAD - Expect retracement ✅Hello traders! ‼️ This is my perspective on NZDCAD. Technical analysis: Here we are in a bearish market structure from daily perspective, so I am looking for shorts from premium zone. For now I expect price to make a retracement to fill the imbalance higher and only that to reject from 4H bearish order block + institutional big figure 0.84000. Fundamental analysis: On Wednesday we have news on CAD, will be released Cash Rate, as well on Friday will be released Unemployment Rate in Canada. Important news for CAD, so pay attention to the results in order to validate the analysis. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD
2
NZD/CAD: Bearish consolidation still in play?From a technical point of view, $NZD/CAD pair could be attractive in near term. If we look at 2H chart we see the main trend is still bullish, but at the same time the potentially corrective structure may not be over yet. If this analysis is correct, our idea is to sell the pair on all technical rebounds on intraday chart. Target at 0.8150 and 0.8120. Trade with care! 👍 ...and if you think that my analysis is useful, please..."Like, Share and Comment" ...thank you! 💖 Cheers! N.B.: Updates will follow below
Short
by TheAnonymousBanker
4
NZDCAD | COULD BE A GOOD SELL Hey Everyone! I believe NZDCAD is a good sell because it's in a bearish channel, we have a strong resistance to the upside, our stop loss is covering both moving averages to add another layer of protection. Overall market bias is bearish, after such a push there might be a slight pullback so if you find the trade pullback heavier you can enter for a more favorable risk-reward ratio. I would suggest having 3 take profits bank the first at around 20-30 pips just for the support, and the rest is totally up to you. Good luck!
Short
by FX-TradingLions