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NZDCAD

NZDCADBottom blue levels indicate monthly support. Market reached support, also fulfilled Daily Fibonacci "D" extension. Anticipating market movement towards monthly resistance (after Fibonnaci extension hit market begins new retracement phase). Monthly = Direction Daily = High or Low price 1Hour = entry According to daily timeframe we are at a low price, still forming new Fibonacci "ABC" sequence. Getting early entry on lower timeframe (1Hr) as market is forming higher highs and lows. Also notice the head and shoulders pattern formation at monthly support. Fundamentals in favour of NZD at time of posting this. LOTS of retail sellers in the market as we know most retail traders tend to lose money... Entry: 11:00AM SA time SL: 0.77563 TP: 0.78821 (next resistance) Lot: 0.5
by TradingfortheFuture_
NZDCAD H1 GARTLEY PATTERNHi traders, NZDCAD is setting up for a downside move i am expecting from price to come around our mentioned area and looking price action on our mentioned area for a downside move. The area that i mentioned in chart is a very intresting level because it is a 78 fib retracement level and also a gartley pattern completion level and the upper trendline third touch. I am waiting for price to come around our mentioned area and looking for a short position opportunity remember price can also drop from the current area in this case our setup will be invalidate GOOD LUCK.
Short
by TheLoserMan
GBPCAD Short from Resistance to 1.538 Zone Welcome back! Let me know your thoughts in the comments! **GBPCAD - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Short
by BKTradingAcademy
8
CADJPY Impulse Correction ContinuationWelcome back! Let me know your thoughts in the comments! **CADJPY - Listen to video! We recommend that you keep this pair on your watchlist and enter when the entry criteria of your strategy is met. Please support this idea with a LIKE and COMMENT if you find it useful and Click "Follow" on our profile if you'd like these trade ideas delivered straight to your email in the future. Thanks for your continued support! Brian & Kenya Horton, BK Forex Academy
Long
by BKTradingAcademy
4
NZD CAD - FUNDAMENTAL DRIVERSNZD FUNDAMENTAL OUTLOOK: NEUTRAL BASELINE The NZD remains a tricky currency to pin down. Fundamentals that should have provided support over recent months haven’t, and the country’s lower terms of trade has made it the biggest loser among the high betas during recent weeks. The RBNZ stuck to the same script in their meeting this past week, disappointing some who were expecting some caution regarding the longevity of the bank’s current hiking cycle. This was initially supportive for the NZD, but as we’ve seen time and time again the NZD was not able to trade convincingly in line with what its fundamentals suggest. As always risk sensitivity needs to be kept in mind for the NZD, and that means US Q3 earnings season is one to be kept on the radar this incoming week. Any surprise positive or negative announcements from the National Congress of the CCP will be important to watch as well. POSSIBLE BULLISH SURPRISES Positive Covid developments in China (easing restrictions, more fiscal or monetary stimulus, or letting go of the covidzero policy) could trigger bullish reactions in the NZD. As a risk sensitive currency, and catalyst that causes big bouts of risk on sentiment could trigger bullish reactions in the NZD. Catalyst that triggers recovery in key export commodities (China stimulus, lifting covid restrictions, new infrastructure projects in China) should be supportive for the NZD. Data showing China’s growth outlook is improving or surprise announcement at the CCP congress that Covid-zero will end could provide upside for the NZD. POSSIBLE BEARISH SURPRISES Negative Covid developments in China (increasing restrictions or adding additional ones) could trigger bearish reactions in the NZD. As a risk sensitive currency, and catalyst that causes big bouts of risk off sentiment could trigger bearish reactions in the NZD. Catalyst that triggers further weakness in key export commodities (additional China restrictions, demand destruction) could be negative for the NZD. Data showing China’s growth outlook is deteriorating or strong affirmation that the covid-zero policy is here to stay could add additional pressure on the NZD. BIGGER PICTURE The bigger picture outlook for the NZD is neutral for now, but that is largely dependent on what happens to China as the New Zealand economy is also very dependent on trade with China and Australia, and also dependent on whether the RNBZ sticks to their hawkish tone or pivots more dovish in the meetings ahead. Given the currency’s inability to trade in line with any clear fundamental drivers, we’re opting to stay patient with the NZD until further notice. CAD FUNDAMENTAL OUTLOOK: NEUTRAL BASELINE Recent economic data has shown some deterioration for the growth outlook with three consecutive months of contraction in jobs, falling house prices, and a deceleration in both core and headline CPI. The previous jobs data gave the CAD a decent lift with it’s first jobs gain in four weeks, but at 21K jobs added, the job market is still down 92K jobs in the last four months. Just like the week before, Governor Macklem gave no intention that the bank is getting close to the end of their hiking cycle. Even though he didn’t specifically say that the market’s expectations for the terminal rate is too low, his concerns about inflation saw STIR markets price in close to 88% probability for another 50bsp later this month. That makes the CPI data this upcoming week all the more interesting. Even though inflation is still high, both core and headline 3M annualized CPI saw continued moves lower with the AUG print. Another bigger-than-expected miss will be an interesting one for markets to navigate and could provide some short-term opportunities. POSSIBLE BULLISH SURPRISES Catalysts that see upside in Oil (deteriorating supply outlook, ease in demand fears, OPEC developments) could trigger bullish CAD reactions. As a risk sensitive currency, and catalyst that causes big bouts of risk on sentiment could trigger bullish reactions in the CAD. After the bank’s frontloading, there is a very high bar to surprise on the hawkish side for the BoC, but if the bank were to say they think STIR market pricing for the terminal rate is too low that can provide upside for the CAD. POSSIBLE BEARISH SURPRISES Catalysts that trigger downside in oil (deteriorating demand outlook, ease in supply shortage, less supply constraints, OPEC developments) could be a negative catalyst for the CAD as well. As a risk sensitive currency, and catalyst that causes big bouts of risk off sentiment could trigger bearish reactions in the CAD. With the bank 100bsp away from terminal rate expectations, and after recent hawkish comments, it won’t take much to surprise dovish, and any signals or comments from the BoC that they’ll pause hikes should be a negative for the CAD. BIGGER PICTURE The bigger picture outlook for the CAD remains neutral for now. Given the clear risks to the growth outlook (recent negative econ data and fall in oil prices) we remain cautious on the currency. Furthermore, with lots of good news priced, and with the BoC close to terminal rate expectations, our preferred way of trading the CAD is lower on clear short-term negative catalysts. Biggest focus for the CAD in the week ahead will be the SEP CPI print where a further sign of strong deceleration will be an interesting one to watch, especially after the very recent hawkish BoC comments. Monday’s Business Outlook Survey is also one to watch as the release can cause strong directional flows as well. Apart from that, from a risk sentiment perspective we also need to watch the US Q3 earnings season ramping up this week.
by thunderpips
4
Joe Gun2Head Trade - Fading NZDCADTrade Idea: Selling NZDCAD Reasoning: Fading NZDCAD Entry Level: 0.7747 Take Profit Level: 0.7625 Stop Loss: 0.7767 Risk/Reward: 5.82:1 Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all indicators, strategies, columns, articles and other features accessible on/though this site is for informational purposes only and should not be construed as investment advice by you. Your use of the technical analysis , as would also your use of all mentioned indicators, strategies, columns, articles and all other features, is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness and usefulness (including suitability) of the information. You should assess the risk of any trade with your financial adviser and make your own independent decision(s) regarding any tradable products which may be the subject matter of the technical analysis or any of the said indicators, strategies, columns, articles and all other features.
Short
by Signal_Centre
4
NZDCAD H1: BEST Level to BUY/HOLD +100/+150 pips(SL/TP)(SWING)Why get subbed to me on Tradingview? -TOP author on TradingView -2000+ ideas published -15+ years experience in markets -Professional chart break downs -Supply/Demand Zones -TD9 counts / combo review -Key S/R levels -No junk on my charts -Frequent updates -Covering FX/crypto/US stocks -before/after analysis -24/7 uptime so constant updates 🎁Please hit the like button and 🎁Leave a comment to support our team! NZDCAD H1: BEST Level to BUY/HOLD +100/+150 pips(SL/TP)(SWING) IMPORTANT NOTE: speculative setup. do your own due dill. use STOP LOSS. don't overleverage. tagged as LONG because 400 pips upside still remains. recommend to BUY/HOLD IT. 🔸 Summary and potential trade setup ::: NZDCAD H1:/candle chart review ::: currently trading in mid range ::: BUY/HOLD after pullback ::: 150 pips upside remains ::: BULLS will target 7800 ::: BEARS will take from there ::: expecting pullback / re-test of range lows ::: similar fractal in progress early October ::: TP BULLS +100 / +150 pips ::: recommended strategy: BUY/HOLD 7650 ::: TP1 BULLS +100 pips TP2 BULLS +150 pips ::: SWING trade setup do not expect ::: fast/miracle overnights gains here ::: good luck traders 🔸 Supply/Demand Zones ::: 7650 fresh demand zone ::: 7800 fresh supply zone 🔸 Other noteworthy technicals/fundies ::: TD9 /Combo update: N/A ::: Sentiment short-term: BEARS/pullback ::: Sentiment outlook mid-term: BULLS/PUMP RISK DISCLAIMER: Trading Futures , Forex, CFDs and Stocks involves a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. Always limit your leverage and use tight stop loss.
Long
by ProjectSyndicate
22