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CANADIAN DOLLAR / NEW ZEALAND DOLLAR

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CADNZD trade ideas

NZDCAD LONGPrice created new highs and my previous AOi was not retested, Looking for the next push from this current AOi; Market Structure is Bullish on HTFs 30% Weekly and Daily at the same AOi Weekly rejection from AOi Daily Rejection from AOi Previous Daily Structure point H4 Candlestick rejection Levels 4.03 Entry 90% REMEMBER: Trading is a Game Of Probability : Manage Your Risk : Be Patient : Every Moment Is Unique : Rinse, Wash, Repeat! : Stay Hydrated #Follow#Share#Comment#Boost
Long
by mobbie_zw
1
NZDCAD Will Go Higher From Support! Long! Here is our detailed technical review for NZDCAD. Time Frame: 2h Current Trend: Bullish Sentiment: Oversold (based on 7-period RSI) Forecast: Bullish The market is testing a major horizontal structure 0.841. Taking into consideration the structure & trend analysis, I believe that the market will reach 0.845 level soon. P.S We determine oversold/overbought condition with RSI indicator. When it drops below 30 - the market is considered to be oversold. When it bounces above 70 - the market is considered to be overbought. Like and subscribe and comment my ideas if you enjoy them!
Long
by SignalProvider
1
NZDCAD short term longFundamental : The Bank of Canada recently lowered its interest rates, impacting the value of the Canadian dollar. This dovish stance by the BOC has created a supportive environment for the NZDCAD pair to appreciate. Technical Analysis : The NZDCAD chart showcases a significant bullish potential, highlighted by a successful break above a key resistance level. Key technical observations include: Break of Key Resistance : The pair has convincingly broken above the resistance level, indicating strong bullish momentum. This breakout suggests that the market sentiment has shifted in favor of the New Zealand dollar. Support and Resistance Levels : Following the breakout, the previous resistance level now acts as support. This level should be monitored for potential retests, which could offer buying opportunities. Outlook : Bank of Canada’s Dovish Stance : The recent rate cut by the BOC has weakened the Canadian dollar, contributing to the bullish trend in NZDCAD. Continued dovish signals from the BOC could further support this trend. Market Sentiment : Investors are likely to favor the New Zealand dollar over the Canadian dollar in the short term, given the supportive monetary policy environment in Canada. Conclusion : NZD/CAD is exhibiting strong bullish momentum, driven by a technical breakout above a key resistance level and supported by the Bank of Canada’s recent interest rate cut. Traders should watch for retests of the broken resistance level for potential buying opportunities, while also considering the overall market sentiment and central bank policies.
Long
by Metow1sw