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NZD/CAD

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NZDCAD trade ideas

#nzdcad Elliott wave analysisAs you can see in the chart, it seems like the price has completed the 3rd wave of wave 3 and is now getting ready for a bearish corrective move to form wave 4 of wave 3. During this bearish correction, we could expect the price to retrace all the way towards the static support zone. However, based on the three basic rules of Elliott Wave theory, wave 4 cannot interact with wave 1. As a result, if this labeling is going to materialized, then the price cannot go below 0.82190. And that's where our stop loss could be placed.
by mohemati
NZDCAD potential longNZDCAD is showing promising bullish potential, driven primarily by the dovish stance of the Bank of Canada (BOC) on interest rates. Fundamental Analysis : Bank of Canada's Monetary Policy : The BOC's dovish position on interest rates is a key driver for the NZD/CAD pair. A dovish stance implies that the BOC is likely to keep interest rates low or consider further rate cuts to stimulate economic growth. This approach generally leads to a weaker Canadian dollar as investors seek higher yields elsewhere, thereby increasing the relative appeal of the New Zealand dollar. New Zealand's Economic Outlook : Concurrently, the economic outlook for New Zealand remains robust, supported by steady economic indicators and proactive fiscal policies. This positive backdrop bolsters the New Zealand dollar, making it more attractive against the Canadian dollar, particularly in a low interest rate environment. Technical Analysis : From a technical perspective, the NZD/CAD pair has been trending upwards, recently breaking through significant resistance levels. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are aligned with the bullish trend, suggesting further upward momentum. Conclusion : Considering the Bank of Canada's dovish stance and the favorable economic conditions in New Zealand, the NZD/CAD pair is well-positioned for continued bullish movement. Traders should consider this as an opportunity to explore long positions, capitalizing on the anticipated appreciation of the New Zealand dollar against the Canadian dollar.
Long
by Metow1sw
Policy Divergence: BoC and RBNZ Take Opposing PathsGreetings Traders, In today's trading session, our focus is on NZDCAD, where we see a promising buying opportunity emerging around the 0.83500 zone. NZDCAD has been traversing a downtrend but is currently undergoing a correction phase, drawing nearer to the retrace area near the 0.83500 support and resistance zone. Adding depth to our analysis, recent fundamental developments are worth noting. Just yesterday, the Canadian CPI figures came in softer than anticipated. Meanwhile, during the night, the Reserve Bank of New Zealand (RBNZ) issued some notably hawkish guidance. This sets an interesting stage: while the Bank of Canada (BoC) is poised to initiate rate cuts come June, the RBNZ appears to be steering clear of such measures for the time being. This subtle policy divergence introduces a compelling dynamic that suggests NZDCAD may continue its upward trajectory. In summary, the confluence of technical retracement and fundamental policy disparities presents an opportune moment for traders to consider a bullish stance on NZDCAD.
Long
by JoeChampion
NZDCAD - Expect retracement ✅Hello traders! ‼️ This is my perspective on NZDCAD. Technical analysis: Here we are in a bullish market structure from daily timeframe perspective, so I look only for long position. I expect price to make a retracement to fill that huge imbalance and then to reject from bullish order block. Fundamental analysis: This week on Wednesday (GMT+3) we will see results of Cash Rate on NZD, news with high impact on currency. Like, comment and subscribe to be in touch with my content!
Long
by Snick3rSD
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