NZDCAD Break Out of ChannelNZDCAD today has broken out of its downtrend, crossed the cloud and broke PMH.
Have been loading this trade since the 13th as we continued to test the lower trend line. Now that we are starting to get some better momentum this upward momentum could continue for some big gains.
CADNZD trade ideas
NZDCAD-Nov-18-expectations
The market is trending downwards, indicating a bearish sentiment, with the price pulling back to the 0.786 Fibonacci retracement level. A supply zone has been identified and defined as an order Block. Confirmation of the trade setup has been completed with a break of structure on the 15-minute timeframe (head &shoulders). The stop loss is positioned 10 pips above the supply zone. The take profit target is set at the nearest demand zone to align with market dynamics and ensure a favorable risk-to-reward ratio (2-1 RRR)
NZDCAD Potential DownsidesHey Traders, in tomorrow's trading session we are monitoring NZDCAD for a potential downsides around 0.82900 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 0.82900 support and resistance area.
Trade safe, Joe.
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Stop Loss 🛑: Recent Swing High using 4h timeframe
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NZD/CAD AnalysisThe NZD/CAD exchange rate has been moving within a well-defined channel over the past year. The price consistently touches the support line during downtrends and the resistance line during uptrends, suggesting a potential opportunity for a short position targeting the support level. Based on current analysis, the overall trend remains bearish.
This is not financial advice.
NZDCAD Pattern FormationThis currency has been forming a rising flag pattern (according to 1D timeframe) and the trend wants to complete the pattern by touching the lower trendline at 0.817.
According to the lower timeframes, there is the formation of a falling wedge, and this will help us come up with an entry position. We will wait for the price to break out of the formation and retest the zone so that we can enter our trade.
NZDCAD Will Go Up From Support! Long!
Here is our detailed technical review for NZDCAD.
Time Frame: 6h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The price is testing a key support 0.820.
Current market trend & oversold RSI makes me think that buyers will push the price. I will anticipate a bullish movement at least to 0.825 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
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NZD / CAD BEARISH OPPORTUNITIES H & S PATTERN.
Description
this pair has beautifully retraced from the neckline of daily head and shoulder pattern formed .
Chance of entering on the retest of neckline is missed as per now but , knowing the momentum which is bearish as we see now can bring lot of good setups in coming days.
NzdCad Trade IdeaNzdcad has been bearish. I managed to catch a solid 1:3rr to the downside where targets were then smacked. NC has been using a trendline as support so I'm personally waiting to see what happens when price approaches the trendline. I either want to see some type of bullish volume with structures to match or wait on price to continue crashing below the trend. Price has respected the trendline MULTIPLE times so I doubt price would crash below. My priority on the pair is to look to go long.
NZD/CAD Channel playEven though NZD/CAD is in a Longterm bearish trend we are currently trading along the lower trendline and short term charts are overextended to the downside. Signifying a high potential for a quick bounce.
Stop will be with 1HR close under trendline (Will look for re-entry if happens)
Good risk to reward ration for a quick play leading into this afternoon.
NZDCAD Appears To Be Ending its Bearish Wave.NZDCAD Appears To Be Ending its Bearish Wave.
In early September 2023, NZDCAD began a significant uptrend that continues to unfold clearly.
The price is rising within a large, daily "Ascending Channel" pattern. The support area of this channel has been tested five times in a row and the channel has remained valid, increasing the likelihood that the price will respect the lower boundary of the pattern this time as well.
Since we are analyzing a daily chart, the price movement is likely to take its time to grow, as it has happened before. The main point is that NZDCAD appears to be ending its bearish wave.
Targets based on the structure of the pattern are located near 0.8355, 0.8430 and 0.8600.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Bearish drop?NZD/CAD is rising towards the resistance level which is a pullback resistance that is slightly above the 38.2% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.82961
Why we like it:
There is a pullback resistance that is slightly above the 38.2% Fibonacci retracement.
Stop loss: 0.83326
Why we like it:
There is an overlap resistance level that is slightly below the 78.6% Fibonacci retracement.
Take profit: 0.82394
Why we like it:
There is a pullback support level.
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NZDCAD - Look for a short position !!Hello traders!
‼️ This is my perspective on NZDCAD.
Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. My point of interest is imbalance filled and rejection from bearish OB + institutional big figure 0.83000.
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