NZDCAD is looking very bearish. The overall trend of this pair is in a bearish. The market has recently hit the descending resistance and has struggled to continue bearish and is ranging. The market has hit the resistance of the 0.91000 psychological level. This level has seen the price test it and fall sharply bearish numerous times in the past. The most...
Looking from top down we have had a lovely weekly candle formation known as the evening star candle formation. Whats more important as its come from a retest of previous highs also so now more so confirming the selling pressure to carry on to the down side on this pair. initial targets are around 140 pips currently. We shall see what the market brings next week.
NZDCAD has been trading in a descending channel on the daily chart for some time.
After failing to reach the descending trend line at the top level of the channel price has steadily declined and broke below 0.9100 support.
Price is now treating this zone as resistance and we've seen a slow down in momentum.
If price declined to the 0.89150 support we would go...
Looking on the weekly time frame we can clearly see the outer structure we have on this pair with it being respected previously..
Currently price action finished strong for the week with a lovely bullish engulfing candle formation also with the strong previous impulsive push to the upside it wouldn't surprise me seeing this now break to the upside. The only...
Even to an untrained eye can tell that this support area on the 4H chart seems worth considering. There is high volatility news coming out in just over an hour from posting this trading idea, if in favour of NZD, we can expect a rally up to roughly 0.9 psychological level.
Overall, price is currently sitting at the top bound of a channel. However, zoomed into hourly, price has created an ascending flag/channel which will break towards the downside.
Target is based on confluence of Fibonacci Cluster (retracement and extension) + aligned with previous structure
NZD CAD, presenting us a great opportunity for a short.
A clear 4h break of 0.90476 and a retest on 1h would be a great entry for this pair. For a nice 120 pips!
I will updating you guys.
All of the best
Here is a potential long position to 0.94000, I believe it is setup to be a good trade, however I wouldn't enter a position until price breaks the 4H resistance.
If you look at this chart on the daily timeframe, you will see that this pair had a large price surge, and then began to create a 'flag formation', however once I dropped it down to the 4H I noticed that...
NZDCAD in my perception completed the ABC correction wave and now a new impulse is coming.
I had a pending order on 0.90700 which has been activated, lets see if we can catch 200 pips on this pair to complete our amazing week
If you take a look at you can see the right shoulder has now been made from the heads and shoulders pattern, if you also look at the 4h chart you will also see a visible heads and shoulders. I had an earlier publication of the myself shorting the right shoulder from the yellow ob however that had been removed due to violating trading view terms.
Still holding the...