NZD CAD PRICE - BACK TO IMBALANCE ZONE NZD CAD PRICE - BACK TO IMBALANCE ZONE we got a break out of up trend line nd takes retest after price will be down fall till support zone make a short entry as shown in the picture follow for more live updates
CADNZD trade ideas
NZDCADNZDCAD is trading in strong bearish trend and consistently printing LL LHs. and is about complete ABCD pattern at strong daily resistance level. Recently the price is broken the important support zone and now retesting the broken level, which is also the 50% Fib retracement level.
If the buy momentum continues the next target could be 0.80200
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🔴NZDCAD Bearish ↘️We may enter short after correction .. as directed by Chart above
Weekly down
Daily down
4hrs about to follow trend heading down
We are searching for confirmation to Enter after few hours ..
Safe trade and Do risk management well
NZDCAD: Important Breakout & Bearish ContinuationThis week, NZDCAD broke through and closed below an important horizontal support level.
The broken support has now become a resistance level, which the market is currently retesting.
I anticipate a bearish trend continuing towards the levels of 0.8117 and 0.8070.
NZD/CAD has a strong bearish momentum, could it fall further?Price is rising towards a resistance level which is a pullback resistance which aligns with the 50% Fibonacci retracement and could reverse from this level to our take profit.
Entry: 0.81639
Why we like it:
There is a pullback resistance level which aligns with the 50% Fibonacci retracement
Stop loss: 0.81898
Why we like it:
There is a pullback resistance level
Take profit: 0.81091
Why we like it:
There is an overlap support level
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NZDCAD Will Go Down! Short!
Here is our detailed technical review for NZDCAD.
Time Frame: 6h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is approaching a key horizontal level 0.818.
Considering the today's price action, probabilities will be high to see a movement to 0.814.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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NZDCADType of order: pending sell order.
Last week this pair suppose to go down and start to go higher and higher; so this week it needs to make a good retracement.
blessings.
Risk:reward 1:3
NZDCADNZDCAD can be attempted to short at LH (also bearish divergence occur) by placing Sell limit.
SL , TP mention in chart
Analysis at 1 hour
NZDCADNZDCAD is showing Bearish divergence and it break its Last HL plus its Trendline which shows potential break on uptrend sell on CMP with risk define previous highs
NZDCAD-Trend reversal NZDCAD is showing bullish divergance and it break its Last LH plus its Trendline which shows potential HH buy on breakout of Last LL
nzdcadnzdcad is trading in Bullish trend with no divergence at top secondly at 0.618-0.78 fib support AND At horizontal support and making HL
place buy with risk defined below Last low
NZDCAD → Trade Analysis | BUY SetupHello Traders, here is the full analysis.
Watch strong action at the current levels for BUY . GOOD LUCK! Great BUY opportunity NZDCAD
I still did my best and this is the most likely count for me at the moment.
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NZDCAD SHORT - WAIT FOR BREAK AND RETEST!Waiting for a break and retest of 0.81635 to short NZDCAD back to 4H swing low at 0.80705
If you agree drop a like and if you have any questions leave a comment :)
Week 16 Analysis (15Apr) + Week 15 ReviewWelcome Fellow Traders!
Tech Analysis for the coming week + review of the current!
Usually takes about 15-20 mins, sharing as much as possible, Stay Tuned!
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NZDCAD Possible LONG PositionUsing the BBMA Strategy by OA, a Re-Entry Long in 4H time frame appeared and using a multi- time frame analysis , I'm now waiting for a confirmation in TF 2 and TF 3 ( 15m Entry ).
4H - Re-Entry
1H- WAIT for 50 EMA Rejection + Extreme long
15m- wait for CSAK + Retest in MAHILO min 15m
Note:
* Cancel trade or cut-loss when candle close below MAHI in 4H
* 1:3 RRR
* TAYOR
A combination of multiple moving averages and Bollinger Bands is the BBMA OMA Ally strategy. It provides an extensive and reliable examination of market trends and patterns by utilizing the strength of both indicators. It is a multi-time frame analysis
The Possible ScenarioThe Possible Scenario for NZD/CAD. I expect to reach to the bottom of the cloud and then drop after checking the candle sticks. The first target is around 0.81500
NZDCAD: 05/04/2024 Swing Selling Idea! NZDCAD
looking at 2-DAY timeframe, we have successfully identified, about future move of the pair, price have dropped significantly and currently doing some major correction, in our view price previously have done the similar movement. Although, the price is bit far away from our selling zone, still it is very likely that it will take sometime to reach our premium selling zone. We strongly recommend to have some patience and let the price come to the zone before buying or selling as we eying on the big move and it take times.
Have a great weekend, we will meet you next week with updates and new ideas.
SELL NZDCAD for downtrend continuation SELL NZDCAD for downtrend continuation
STOP LOSS : 0.8273
There is a strong trend on the daily time frame and all that have happened in the past days was just consolidation ( or trend pull back before continuation) .....
The daily time frame is showing strength continuation from this level of support and resistance so we are looking for the trend to push forward from here .....
TAKE PROFIT : take profit will be when the trend comes to an end, feel from to send me a direct DM if you have any question about take profit or anything
Remember to risk only what you are comfortable with…….trading with the trend, patient and good risk management is the key to success here
Trade Plan (Pending): I am selling NZD/CAD at 0.8224Overnight we have the RBNZ interest rate decision and monetary policy statement. Governor Orr recently said he sees signs of more normalised rates on the horizon. The single currency basket highlights limited buying pressure for NZD.
NZD/CAD - we have seen a sustained rally from the 0.8066 swing low. The 361.8% extension level from 0.8066-0.8109 is located at 0.8222. Elliott Wave enthusiasts may look to this as the 5th wave completion. That would dictate that we would then see a choppy 3 wave pattern to the downside.
Bespoke resistance is located at 0.8225.
An ending wedge highlights limited buying pressure for the cross.
The focus will be on the previous order block from April 3.
If this trade plan is not executed before the interest rate decision at 2am GMT, please cancel.
Selling at 0.8224
SL: 0.8247
TP1: 0.8138: 3.95R
TP2: 0.8085: 6.04R
#tradeplan #NZDCAD
Unlocking the Correlation: NZDCAD's Dance with StocksTraders,
In today's trading session, our attention is directed towards NZDCAD, where we're eyeing a potential selling opportunity around the 0.82700 zone. As NZDCAD charts a downtrend, it's currently amidst a correction phase, edging closer to the crucial support and resistance area at 0.82700.
Adding depth to our analysis, it's essential to consider the fundamental landscape. The current bearish sentiment prevailing in stocks and indices casts a shadow over NZDCAD, primarily due to their positive correlation. When stocks and indices decline, the New Zealand dollar (NZD) tends to weaken against the Canadian dollar (CAD), reflecting the risk-off sentiment that accompanies declines in equity markets.
This positive correlation between NZDCAD and stocks can be attributed to several factors:
1-Risk Appetite: The New Zealand dollar is often viewed as a risk-sensitive currency, meaning it tends to strengthen during periods of risk appetite and weaken during risk aversion. In contrast, the Canadian dollar is often considered a commodity currency, influenced by factors such as oil prices and global economic growth prospects.
2-Commodity Prices: Both New Zealand and Canada are significant exporters of commodities, and their respective currencies can be sensitive to changes in commodity prices. A decline in global commodity prices, driven by concerns about economic growth or demand, can weigh on both the NZD and CAD, contributing to their correlation.
3-Global Economic Outlook: Changes in the global economic outlook can impact both stocks and currencies. In times of economic uncertainty or slowdown, investors may seek safer assets, leading to declines in both stocks and risk-sensitive currencies like the NZD.
Therefore, with stocks and indices exhibiting a bearish bias, NZDCAD faces increased pressure, aligning with its positive correlation with equities. This correlation underscores the interconnectedness of different asset classes and the importance of considering broader market trends when analyzing currency pairs.
Trade wisely,
Joe
