The recent risk rally has encouraged commodity currencies higher. As crude ignores the globalized downturn in economic output and ongoing "pump at all costs" mantra of producers, the Canadian dollar has hit a three-month high against the dollar. Crude aside, traders have also factored in the fact that the potential for a rate cut from the Bank of Canada had...
NZDCAD DAILY (BULLISH BAT PATTERN)LONG
As a continuation to the idea from the Daily anticipated Harmonic move, I dropped to the H4 time frame to identify the best area to short this pair. I have identified a clear support area which may act as resistance. At the red area, I want to look for a bearish candle stick formation (Bearish Engulfing, Pin bar, etc) and look to short NZDCAD to the Green Area...
NZDCAD Daily Time Frame I am looking for a pullback then a continuation to the green zone at an uptrend line
Explanation: Red line: Significant Weekly Highs/Lows
Brent crude has been able to rally on little volume during the U.S. banking holiday and rumors surrounding a potential unified OPEC production cut, issued by the UAE energy minister just as WTI was carving out a 12 year low (and in the middle of the night, local time, no less.) Four days later, there has been no new reports of said production cut proposal, but...
Good morning traders, I´m posting a potential long term view for NZDCAD . A top might be formed around 0.965 and since then new lower highs . Also with the rationale of my other post that Oil prices bottomed, I have bearish bias on AUD & NZD vs CAD pairs SL @ 0.7275 You can subscribe to my mailing list for FX Alerts : eepurl.com 6 Trading Rules : 1. Never...
Waves within Waves, Short the 5th wave of the 4th Corrective move trading within the channel up till 61.8% Fibo level at price 0.8965, then Go LONG from this level to breakout the channel resistance 5th wave (impulse) on the Weekly chart. Apply due diligence.
STOP LOSS AT 127% FIB LEVEL. MQL5: www.mql5.com
Price has been breaking lower on the H4 chart and we are looking for potential short opportunities around the 0.9230 and 0.9300 resistance levels which confluence with 50% and 61.8% fibonacci levels as well. The Immediate resistance level is at 0.9150, with demand zone around 0.9000 region and supply zone around 0.9400 region. OUR DIRECTIONAL BIAS FOR THE...
Some directions with Rate of Change indicator. Happy trading! ____________________________ SUBSCRIBE to my TRADE SIGNALS with 15 DAYS of FREE TRIAL. Suitable for all traders. Please, contact me via Private Message, Email (insidemarketfx@gmail.com) & Skype (@insidemarket168).
NZDCAD is making a three wave corrective setback, possibly to around 0.91146 area, where black wave C would equal the distance of black wave A, and ideally make a reversal to higher levels. Even our fibo. ratio at 0.5 could indicate a reversal. www.ew-forecast.com @ewforecast
Last setup I've traded in $NZDCAD generated 1000 pips rally in this pair following a completion of a bullish weekly pattern (Orange). Obviously I didn't catch the entire move, but 400 pips was a very nice swing trade. Now $NZDCAD completed a weekly pattern (bearish) near 0.95 Elite Zone members already up 200 pips since our entry, but if you consider that we are...
NZDCAD - Selling Set Up - CAD Strong at this time !