NZDCADIDEA
NZDCAD D1As we can see market is going in uper channel. So we will find a sell opertunity near its resistence if market show a fake out. we will enter on divergence strategy.
NZDCAD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 49 - Dec 02
M > Market was moving in a downward channel, however price has broken channel to the upside and now testing monthly supply zone.
W > Price has formed two over extended W formations and can see loss of momentum and also bearish divergence. We expect drop in price however in its current bullish move it can continue to rise to test weekly resistance.
D > Market is in overbought state however no sign of reversal can be seen currently. In massive bullish move we must see a reversal on daily chart for a confirmed sign.
As per COT NZD further added both Long and Short bringing Long to the highest for the year, ZXY has gained strength all of November, it is now testing a major resistance level. We can expect some correction to the downside for NZD. CAD added both Long and Short positions, improving net positions though still in -ve. N-R also added both Long and Short greatly improving cumulative net positions, in +ve. CXY strengthened last week and is testing monthly resistance. We can expect correction to the downside this week.
4H > Price tested supply zone last week and after rejection has returned back to test same zone again. We can see bearish divergence but must see formation of LL for bearish reversal.
Pair Correlation > NZDCAD has positive correlation with NZDCHF, NZDUSD, NZDJPY, GBPCHF and GBPCAD and negative correlation with EURNZD and GBPNZD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
NZDCAD short trade ideaPlan: trendline and support level breakout --> wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD BUYThis is NZDCAD 15 minutes timeframe analysis, i'm expecting this pair to go up for 50 PIPs as my final TP.
NZDCAD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 48 - Nov 23
M > Market was moving in a downward channel, however price has broken channel to the upside and now testing monthly supply zone.
W > Price has formed two over extended W formations and can see loss of momentum and also bearish divergence. We can expect drop in price.
D > In bullish impulse we can see bearish candles at two key levels that will now act as demand zones. Market is in oversold zone and can expect a drop soon.
As per COT NZD further added both Long and Short improving net positions to max for the year, ZXY has been gaining strength for past 3 weeks, it is now testing a major resistance level. CAD further added Long but closed few Short positions. CXY lost its gained strength during the said period.
CAD currently has balanced Long and Short open positions and NZD has +ve net position. Hence in current situation we do not see any reason of price turning bearish unless either NZD weakens or CAD strengthens, which can be monitored closely with other NZD and CAD pairs.
4H > Price is moving in a bearish flag and a breakout to the downside can be expected.
Pair Correlation > NZDCAD has positive correlation with NZDCHF, NZDUSD and NZDJPY and negative correlation with EURNZD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
NZDCAD Roadmapcurrently, we are seeing price testing the resistance level and we need to wait for price rejection to occur before placing any sell order, ideal downside target price at the 0.8870 support level. good luck traders!
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD approaching the supply zonecurrently, we are seeing price forming a higher peak and higher trough series, we have room to go down to the 0.8828 level as a target level if the seller manages to hold the price at the supply zone, wait for the price rejection! good luck traders ;)
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCADBounce off pennant support + Breakout above downtrend resistance + RSI bullish divergence signal ↗️
NZDCAD, price testing the demand zone!currently, we are seeing price testing the demand zone, we need to wait for the price to react and bounce off from the demand zone before placing any buy order. wait until price formed a rejection pattern on a lower timeframe - do your own research! ;)
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 43 - 20 Oct
M > Market is moving in a downward channel, price dropped from resistance level of the channel completing the W formation.
W > Price dropped to test monthly support, faced rejection and moved up to test weekly resistance again. Price also had support of rising trend-line.
D > We saw formation of H & S pattern, hence expected bearish movement. Price dropped out of support trend-line but moved back in to pause at daily demand zone. As expected price broke out of demand zone. We expect price to continue with drop till weekly support.
As per COT NZD saw addition of both Long and Short further increasing net positions, confirming further improved strength of ZXY for the said week. ZXY has been gaining strength slowly since June 2020. ZXY however weakened last week. CAD saw addition of major Long and closure of Short positions with Short positions further reducing to least for current year, improving net positions (still in -ve). CXY further gained strength during the said week but weakened a bit last week.
4H > Price created a new H & S pattern on 4H time frame and with good momentum continuing to drop towards our target.
Pair Correlation > NZDCAD has positive correlation with AUDCAD, AUDUSD and NZDUSD and negative correlation with GBPNZD and GBPAUD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
NZDCAD LONG- Closed above a key level (indicating a good level of support).
- Recently created a HIGHER LOW.
- Dragonfly & Bullish Engulfing formed over the last few days.
- 20 EMA just below price.
(High impact AUD news tomorrow may have close correlation with NZD price action)
NZDCAD Top-Down AnalysisHello Traders,
Here is the Top-Down Analysis of NZDCAD (Monthly, Weekly, Daily for direction and 4H for entry) for
Week 42 - 12 Oct
M > Market is moving in a downward channel, price dropped from resistance level of the channel completing the W formation.
W > Price dropped to test monthly support, faced rejection and moved to test weekly resistance. Price also has support of rising trend-line.
D > We can see formation of H & S pattern, hence we expect bearish movement. Price had dropped out of support trend-line but moved back in and is now testing daily support now turned resistance.
As per COT NZD had closure of few Long and major Short increasing net positions, confirming strength of ZXY for the said week. Short positions have reduced to least in current year. ZXY has been gaining strength slowly since June 2020. ZXY improved its position last week. CAD saw closure of Long and more Short positions with Short positions reducing to least for current year, slighting improving net positions. N-R saw closure of Long and addition of Short, in effect reducing cumulative net positions to further -ve. However CXY gained strength for the said week and was much more strong last week.
Currently ZXY is gaining strength and so does CXY, for bearish move of NZDCAD ZXY needs to weaken and CXY needs to strengthen. Hence we have to be cautious while taking Short trade.
4H > Price has created W formation and we expect a drop to test the neck. We will monitor price action for entry from there, Short or Long. For long term we will continue to have bearish bias.
Pair Correlation > NZDCAD has positive correlation with NZDCHF, AUDCAD, AUDUSD and NZDUSD and negative correlation with EURNZD, GBPNZD and GBPAUD.
This was my Idea and I hope you find it useful. If you find the analysis of help please leave a LIKE and FOLLOW for receiving all updates during the week. In the comment section share your view or ask questions.
Thank You
AP17FX
NZDCAD long trade ideaPlan: wait for the price to bounce off from demand zone --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD short trade ideaPlan: wait for the price to bounce off from resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar, etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in the comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD - BEARISH BIASNZD - BEARISH
1️⃣ New Zealand extended its level three lockdown restrictions in Auckland until at least midnight on Sunday, reporting 7 fresh cases of the coronavirus as community transmission persists.
2️⃣ The volume of total retail sales in New Zealand declined a seasonally adjusted 14.6% in the second quarter of 2020, posting the largest drop in total volume sales since the series began in 1995.
CAD - BULLISH
1️⃣ CAD lifted by a rise in oil prices after tropical storms Marco and Laura hit the Gulf of Mexico and amid optimism about coronavirus treatments.
2️⃣ US Dollar Index (DXY) is staying on the back foot as the greenback struggles to grab investors' attention as a safe-haven.
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TECHNICAL
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- We shorting NZDCAD on pivot point level + SMA100 area + SBR level on H1 chart.
- NZDCAD in bearish zone.
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RISK TO THIS TRADE
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This trade will hit stop loss if oil prices going down and market sentiment turns to risk-off mode.
NZDCAD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
NZDCAD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
