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Nzdcadlong

NZDCAD Swing Trade Idea (LONG)NZD/CAD ------------------------------------------------------------------------------------------------------------------ This past week, price experienced a heavy move into weekly and monthly demand. Since then, price has kept moving up. I see a reversal in trend and thus this bullish trend is definitely starting Additionally, a Head and Shoulders pattern has been successfully formed and this gives us insight on how strong the move will be. Note that this is a daily move so this move can carry us to the rest of the year. A pullback to the previous swap zone should be enough for us to enter the trade. R:R 1:8 SL ~40 pips TP ~320 pips This should be good because we are expecting CAD weakness in the coming months as well. Take care beloved! Until next time. ------------------------------------------------------------------------------------------------------------------
Long
by ricky1270
NZDCAD reversed from resistance, potential drop! NZDCAD reversed off its resistance at 0.841 where it could potentially drop further to 0.838. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
NZDCAD - Downtrend is broken, it's time to take long positionNZDCAD has bounced from an import support level. So, we will be following the new uptrend line. TP will be within Fibo 61.8% level. One more thing to mention, AUD is stronger than CAD, AUDCAD has broken the ascending triangle and has formed a new uptrend, next NZD is stronger than AUD because AUDNZD is getting a pullback from major resistance level (on higher timeframe). So, ultimately NZD is stronger than CAD. We can think like this: NZD > AUD > CAD.
Long
by alamin0x1