NZDCAD trade ideas
NZDCAD: One More Bearish Wave Ahead?! 🇳🇿🇨🇦
NZDCAD is trading in a minor bearish trend on a daily.
A recent violation of the low and a formation of a new lower low
indicates the dominance of the sellers.
I think that the market has a nice potential to drop lower.
I believe that a correctional movement will complete soon
and the pair will drop to 0.826 support.
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NEW TRADE ✨ NZDCAD: LTF CURVE ANALYSIS (50m) ✨ (DOWNTREND)SLO2 @ 0.8371 ⏳
SLO1 @ 0.8336 ⏳
TP1 @ 0.83069
TP2 @ 0.82179
TP3 @ 0.81596
TP4 @ 0.81330
🔑
LTF = LOW TIME FRAME
SLO = SELL LIMIT ORDER
TP = TAKE PROFIT
Short-term time frames (1-minute to 3 hour):
— Highly volatile, price movements can be fast and unpredictable.
— Suitable for day trading and scalping, but require constant monitoring and quick decision-making.
— Not ideal for beginners due to the risk and stress involved.
NZDCAD: Bearish Outlook ExplainedNZDCAD has been showing strong bearish momentum since mid-June.
The market successfully broke and closed below a significant horizontal support level on the 4-hour chart, which has now turned into a new resistance level.
This presents a good opportunity to sell as the market is expected to continue dropping. The next support level to watch for is at 0.8260.