Wed 11th Dec 2024 NZD/CAD Daily Forex Chart Sell SetupGood morning fellow traders. On my Daily Forex charts using the High Probability & Divergence trading methods from my books, I have identified a new trade setup this morning. As usual, you can read my notes on the chart for my thoughts on this setup. The trade being a NZD/CAD Sell. Enjoy the day all. Cheers. Jim
NZDCAD trade ideas
BUY NZDCAD - Price Action Strategy explained Trader Tom, a technical analyst with over 15 years’ experience, explains his trade idea using price action and a top down approach. This is one of many trades so if you would like to see more then please follow us and hit the boost button.
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NZDCAD Breaks Through Descending Broadening Wedge PatternNZDCAD Breaks Through Descending Broadening Wedge Pattern
NZDCAD is breaking through a descending broadening wedge pattern, indicating bullish momentum and potential further growth. The price may linger in the current zone, given the empty economic calendar. However, movement is expected to begin soon.
Let's see how the NFP data tomorrow will impact the market.
The first resistance zones will be found near 0.82900 and 0.8350
You may find more details in the chart!
Thank you and Good Luck!
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NZDCAD Potential DownsidesHey Traders, in today's trading session we are monitoring NZDCAD fora selling opportunity around 0.83200 zone, NZDCAD is trading in a downtrend and currently is in a correction phase in a correction phase in which it is approaching the trend at 0.83200 support and resistance area.
Trade safe, Joe.
Monthly CLS, Model 1 is forming. Target 50% of rangeMonthly CLS, Model 1 is forming. Target 50% of range.
you are welcome to comment with your thoughts and share your charts or questions below, I like any constructive discussion.
Monthly view
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Good luck and I hope this educational post helps to become better trader
“Adapt what is useful, reject what is useless, and add what is specifically your own.”
Dave FX Hunter ⚔
NZDCAD
"Team,
Our analysis suggests that the NZDCAD currency pair is poised for a potential upward move. We recommend buying NZDCAD at the current market price.
Key reasons for this recommendation:
- Technical indicators are showing bullish signals
- Market sentiment is shifting in favor of the New Zealand dollar
- Economic fundamentals support a potential appreciation of the NZD
Please execute the buy order at your earliest convenience.
Risk management:
- Set stop-loss
- Set take-profit
Let's work together to capitalize on this potential trading opportunity.
NZDCAD Short - 6 DecI Identified the swing structure from H4 on NZDCAD.
Price retraced into the Supply zone, swiping all the liquidity available and I believe it poised for swing downwards.
I'm actually in this trade already, only posting this analysis after I've entered.
On M15, There was a ChoCh, confirming my entry model.
NZDCAD Will Explode! BUY!
My dear friends,
My technical analysis for NZDCAD is below:
The market is trading on 0.8226 pivot level.
Bias - Bullish
Technical Indicators: Both Super Trend & Pivot HL indicate a highly probable Bullish continuation.
Target - 0.8256
About Used Indicators:
A pivot point is a technical analysis indicator, or calculations, used to determine the overall trend of the market over different time frames.
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WISH YOU ALL LUCK
NZDCAD: Bullish Continuation is Highly Probable! Here is Why:
The charts are full of distraction, disturbance and are a graveyard of fear and greed which shall not cloud our judgement on the current state of affairs in the NZDCAD pair price action which suggests a high likelihood of a coming move up.
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NZDCAD: Bearish Movement in Channel 🇳🇿🇨🇦
NZDCAD is trading within a wide falling channel on a daily.
After a test its resistance, the price formed a head & shoulders pattern on that.
Breakout of the neckline of the pattern indicates a highly probable bearish continuation
within the channel.
Goal - 0.8161
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Bearish drop?NZD/CAD is rising towards the pivot and could drop to the 1st support which has been identified as a pullback support.
Pivot: 0.82949
1st Support: 0.81994
1st Resistance: 0.83512
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
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NZDCAD: Two Possible Scenarios - Resistance Break or Downtrend?NZDCAD is trading at 0.8273 , and we see two possible outcomes depending on how it reacts to the trendline resistance:
Scenario 1: Price Breaks Above the Trendline Resistance
If the price moves above the trendline resistance, it could rise to the first target at 0.8358 .
If it continues upward and breaks this level too, the next target would be 0.8410 .
Scenario 2: Price Fails to Break the Trendline Resistance
If the trendline resistance holds and the price doesn’t break above it, it could drop to 0.8200 .
Key Points
Watch the trendline resistance carefully, it will show whether the price is likely to go up or down.
Look for clear signal, like strong moves or patterns, to confirm the direction.
Always manage your risk with stop-loss orders.
NZDCAD-bias longBullish indications:
Inverted head and shoulder pattern
Support respected at 0.8246
Morning star candle from support in 4 hr
Currently making HHHL in short term.
Trend line support broken
Bearish indications/;
LLLH in higher time frame.
Resistance ahead at 0.8293
Trade plan bias long @ 0.8271
SL:0.8244
TP1:0.8299
TP2:0.8325
NZDCAD Technical Analysis: Bullish Trend Remains IntactHello traders,
I can see that the NZDCAD pair is currently trading at 0.82634, maintaining a bullish trend as price action consistently forms higher highs and higher lows. After a temporary correction from Friday's high of 0.83107 to 0.82495, the pair appears to have resumed its upward trajectory, targeting a breakout above the previous high.
Key Observations
Trend: Bullish, with a series of higher highs and higher lows.
Momentum and Sentiment: Both indicators support the bullish outlook, reinforcing expectations for continued upside.
Key Levels:
Immediate Resistance: 0.83107 (Friday's high)
Invalidation Point: A break below 0.82428 would negate the bullish scenario and signal potential downside risk.
Conclusion
The overall outlook for NZDCAD remains bullish, with momentum and sentiment aligned for a continuation higher. A sustained break above 0.83107 would confirm the bullish trend, while a move below 0.82428 would call for a reassessment of this view.
Do let me have your take.
Cheers and happy trading.