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NZDCAD

NZDCAD just confirmed it is going lowerIntroduction: NZDCAD has been exhibiting a consistent pattern of lower lows and lower highs within a descending channel. The recent retest of resistance at 0.8275 presents an opportunity for us to capitalize on the potential continuation of the bearish trend. The descending channel on the NZDCAD chart indicates a bearish bias in the market. As the price action continues to form lower lows and lower highs, it suggests that sellers have been consistently overpowering buyers. The recent retest of the resistance level at 0.8275 provides a confirmation of the channel's validity, as the price failed to break above this level, reinforcing the bearish sentiment. This rejection at resistance suggests a potential resumption of the downward move. Trading Plan: Based on the technical analysis, we can establish two targets for this trade: Target 1: 0.81257 - This level corresponds to a previous support zone within the descending channel. We could see a reaction or a potential bounce from this area, leading to a short-term pullback. Target 2: 0.80627 - This lower target represents the lower boundary of the descending channel. A breach of the previous support level could generate further selling pressure, potentially pushing the price towards this level.
Short
by UnknownUnicorn48526553
4
NZDCAD SHORT SETUP H1 - ICT TRADINGOn NZDCAD, we have a bearish setup during the London session opening. I anticipate a potential retracement to level 0.8114, where we have a value gap and a supply zone with high trading volumes inside. In that zone, I expect a price bounce followed by a descent towards the 0.8075 area. We would appreciate it if you shared your opinion. We would be grateful if you could support our work with a 👍 Regards, Nicola, CEO of Forex58 Trading Academy.
Short
by EdgeTradingJourney
NZDCAD - Bullish TrendBased on the chart pattern analysis, it appears that the price is forming higher highs (HHs) and higher lows (HLs), which indicates a bullish trend. Furthermore, the Relative Strength Index (RSI) does not show any divergence currently. I recommend taking a long trade with a risk/reward ratio of 1:1 Please note that this is my personal analysis and trade plan, and it is important for you to conduct your own research and risk management strategies before making any trading decisions.
Long
by mansooryousafzai
NZDCAD: Sell signal after the 1D Death Cross.NZDCAD completed a Death Cross yesterday on the 1D timeframe with the 1D technicals naturally bearish (RSI = 41.395, MACD = -0.004, ADX = 27.419) as the price is under the middle of the logn term Megaphone pattern. Every Lower Low has so far been at or under the Fibonacci 1.236 extension. With the 1D RSI under an LH trendline itself, we are going short, targeting the bottom of the Megaphone (TP = 0.8000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
Short
by InvestingScope
5
NZDCAD - 4hrs ( Buy Trade Target Range 180 : 300 PIP ) Pair Name : NZD/CAD 🗨Time Frame : 4hrs Chart / Close ➕Scale Type : Large Scale ------ 🗒 spreading knowledge among us and to clarify the most important points of entry, exit and entry with more than 5 reasons We seek to spread understanding rather than make money ✔️ Key Technical / Direction ( Long ) Type : Mid Term Swing ——————————— Bullish Reversal 0.81400 Area Reasons - Major Turn level / W - Visible Range Lvn - Fibo Golden - inner Counter Trend - Choch Area - Month Low - Fixed Range Poc Bearish Reversal 0.83500 Area Reasons - Major Turn level / D - Visible Range Lvn - Quarter low - Fixed Range Lvn Bearish Reversal 0.85000 Area Reasons - Major Turn level / M - Visible Range Hvn Area - Down Trend Area - Month High
Long
by GentleGoldenEngine
3
💱 NZDCAD - Consolidation after a trend break. Falling further NZDCAD is breaking the trend. Consolidation is formed below the trend support. A pattern is forming, which can send the price down and it can also be influenced by a false break-down of the resistance on the D1 TA on the high timeframe: 1) False breakdown of resistance 0.82621. There are three bearish candlesticks, indicating the interest of the market. 2) The price is getting closer to the liquidity, which is around 0.81300. TA on the low timeframe: 1) The trend breaks and a wedge is formed. 2) If figure support breaks, at 0.81960 area, price could form a strong momentum towards 0.81591 3) The target support at 0.81591 may be a temporary shelter, but after the next retest it is worth waiting for a breakout of this area and decline in the price to the lower boundary of the range at 0.80671. Key resistance 📈: 0.82174 Key support 📉: 0.81960, 0.81591
Short
by AndeWave
17
NZDCAD Analyst Hello everyone! Today I want share my idea about NZDCAD. On this chart trend looking pretty bearish but here what i see there is one interesting thing, on present LVL price stop moving down broke resistance then bounce from second resistance and came back for retest it. Price moving looking pretty good, I am trend follower trader but at the moment in my opinions price movement is up but there I have also second scene, for reverse trade I opened long position with low lose and high win lets risk it. I think if it will brake 0.829 LVL then target last target will be 0.837. Finally here is nothing for talk lot, what we need to do now wait only price movement it will go with our prediction. NOTE!! THIS IS NOT ADVICE!!! THIS IS SHARE ONLY OF MY TRADE!!!
Long
by elmakacho
NZDCAD - Oil Price On The Rise, Could Mean A Bullish CAD!Analysis: Firstly just by looking at the charts we're able to tell that price is in a downwards trend. We've seen a series of lower lows and lower highs being formed confirming that we are in this downwards trend. We're now approaching a key level that has held as support and resistance multiple times so we expect this to happen again this time around. To add confluence to our area price is about to touch the 50% fib retracement level which we expect sellers to be sat at wanting and willing to enter into short positions pushing price down further. For more added confluence even though our trendline isn't at the area we're interested in it is still key as it shows that price is respecting this downwards trend that we're in, signifying that price is likely to hold the level we're at currently. Fundamentally the NZD is the 4th strongest major currency where as the CAD is the 2nd weakest major currency. This fundamentally really doesn't look good for our setup however if we dig a little deeper we'll see why we actually favour the CAD over the NZD. We have a speculation that oil prices will soon be on the rise again. Now why does this matter? Well Canada is the 4th largest oil distributer in the world meaning that the CAD is very often correlated to oil prices. If we see oil prices rise then so will the CAD. With our speculation on oil it starts to show early signs of a bullish CAD which is why we are bearish on NZDCAD both technically and fundamentally as well. Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read. We appreciate it all. Stay Safe - JPI Disclaimer: This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does to. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Short
by jpeacockfx