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NZDCAD trade ideas

NZDCAD Will Go Higher From Support! Long! Here is our detailed technical review for NZDCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 0.841. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.845 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
NZDCAD short term longFundamental : The Bank of Canada recently lowered its interest rates, impacting the value of the Canadian dollar. This dovish stance by the BOC has created a supportive environment for the NZDCAD pair to appreciate. Technical Analysis : The NZDCAD chart showcases a significant bullish potential, highlighted by a successful break above a key resistance level. Key technical observations include: Break of Key Resistance : The pair has convincingly broken above the resistance level, indicating strong bullish momentum. This breakout suggests that the market sentiment has shifted in favor of the New Zealand dollar. Support and Resistance Levels : Following the breakout, the previous resistance level now acts as support. This level should be monitored for potential retests, which could offer buying opportunities. Outlook : Bank of Canada’s Dovish Stance : The recent rate cut by the BOC has weakened the Canadian dollar, contributing to the bullish trend in NZDCAD. Continued dovish signals from the BOC could further support this trend. Market Sentiment : Investors are likely to favor the New Zealand dollar over the Canadian dollar in the short term, given the supportive monetary policy environment in Canada. Conclusion : NZD/CAD is exhibiting strong bullish momentum, driven by a technical breakout above a key resistance level and supported by the Bank of Canada’s recent interest rate cut. Traders should watch for retests of the broken resistance level for potential buying opportunities, while also considering the overall market sentiment and central bank policies.
Long
by Metow1sw
NZDCAD: DT Curve AnalysisBased on the 4D Chart SSO2 @ 0.8404 ⏳ SSO1 @ 0.8355 ⏳ TP1 @ 0.8263 TP2 @ 0.8185 TP3 @ 0.8128 TP4 @ 0.8039 BLO1 @ 0.8018 ⏳ BLO2 @ 0.7966 ⏳ ADDITIONAL INFO: ⏱ It's prime time for a short BABY. 🤑 Get it while the getting is good. This is an Intermediate Time Frame trade (4 hours to 6 day): — Offers a clearer picture of the underlying trend compared to short-term frames. — Provides more opportunities for confirmation signals and technical analysis. — Allows for more flexible trading schedules, trades can be held overnight. — Suitable for swing traders and some positional traders. 🔑 BLO = BUY LIMIT ORDER DT = DOWNTREND SLO = SELL LIMIT ORDER SSO = SELL STOP ORDER TP = TAKE PROFIT
Short
by ProfessorCEWard
2
NZDCAD: Bearish scenarios...! (Details on caption) By checking the hourly NZDCAD chart we can figure out that the bearish scenario is high probability. the price cleared the liquidity above the daily candle and then shifted the market structure and also had a bearish reaction to the bearish order block. Now, we can see the sell side liquidity which formed as equal lows, trend line liquidity, and daily FVG which can be our last target. For seeing this bearish move I can expect two scenarios that you can see on the chart. First, the price can move down from here. second, because of the clean buy-side liquidity we can expect the price to sweep the liquidity first and then move down. (I prefer to follow this scenario) As always we need LTF confirmation for entry. 💌It is my honor to share your comments with me💌 🔎 DYOR 🗓️07/06/2024 💡Wait for the update!
Short
by VahidTradingCR
1