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NZD/CAD

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NZDCAD trade 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
Short
by BALE_FX
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
Short
by IanColeman
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
Short
by JoeChampion
1
📈💰💡 Review: NZD/CAD Analysis 💡💰📉📈💰💡 Review: NZD/CAD Analysis 💡💰📉 NZD/CAD has caught the attention of traders as it capitalizes on previous liquidity points. This pair has exhibited a promising trend, drawing interest for potential trading opportunities. 🔍 Analyzing the lower time frames reveals clear entry points and potential targets, as indicated on the chart. The bullish sentiment seems evident, with the pair eyeing upward movements. 💼 Traders should keep a close watch on NZD/CAD for potential buy signals, leveraging the insights provided by recent liquidity grabs. This pair holds promise for those seeking profitable trading opportunities. 📊 Overall, NZD/CAD presents an enticing prospect for traders, with clear targets and entry points visible on lower time frames. Keep an eye on this pair for potential gains! 🚀💸 📈👀🎯 🔍💼📊 💡💰📉 Happy trading! 🌟📈💵
Long
by Asif_Brain_Waves
NZDCAD - Short active ✅Hello traders! ‼️ This is my perspective on NZDCAD. Technical analysis: Here we are in a bearish market structure from 4H timeframe perspective, so I look for a short. I expect bearish price action from here as price filled the imbalance and then rejected from bearish order block + institutional big figure 0.82000. Fundamental news: On Wednesday we will see results of Interest Rate on NZD and CAD, news with high impact on currencies, so pay attention to the results in order to validate the direction. Like, comment and subscribe to be in touch with my content!
Short
by Snick3rSD