FX:NZDCAD   New Zealand Dollar/Canadian Dollar
560 11 7
Definition: The Bump and Run is a reversal pattern that forms after excessive speculation drives prices up too far, too fast.
The first phase is a uniform bullish trend with a trend line slope of 30 to 45 degree, then a period of excessive bullishness with a trend line slop of 50+ degrees, and finally the Run phase which is a period of sell-off.
I am looking for an initial down leg towards the bump red trend line, followed by the main blue trend line.
Note: This is a very risky speculative pattern

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i am looking for a reversal as well, mostly of the over bought weekly and monthly RSI……. i keep hearing a lot about problems with the canadian economy but every time we get economic data in the last month or so the numbers have been good???……also a close eye on the cad/chf pair for a reversal as it is also in long term over sold territory…….i don't know why "everyone" is so down on the canadian economy.
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Technician TOP theloneranger
2 years ago
Thanks for your input, I also agree that investor are over-pessimistic over the Canadian economy, or at least the move in the Canadian dollar is overextended, as recent data as u suggested came better than expected, also inflation numbers picked up. On the other hand, the NZD is excessively overbought and i think markets have priced in a lot of the good news, may be due for a good correction. Anyway, its another speculative trade :)
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theloneranger PRO Technician
2 years ago
Do you know I think the two alternating months of slow inflation in Q4 2013 could have been a "tail wagging the dog" result of the extreme exchange rate territories the loonie has been seeing...
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ForceFollower
2 years ago
Well, I can see some weakness too and a deeper correction may be in store. Also your cycle analysis is interesting indeed.

However, as a notorious trend follower, :-) first I will be looking to go long at support of .951. If this one fails, I'll give it another try at .9357. Only then, when the latter fails, will I be looking for a short. :-)
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Technician TOP ForceFollower
2 years ago
Fair enough :). dips are always new opportunities for trend-followers. I suggest waiting for a confirmation though
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PranavShandilya
2 years ago
Agreed completely with this..
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kaloeg
2 years ago
still waiting for confirmation
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alex.a
2 years ago
NZD Gov. announced for Weak NZD and CAD will be stronger. Why not ~
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mampaheka PRO
2 years ago
Very Good analysis.
Friday shooting star, under your trend line. are you bearish?
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Technician TOP mampaheka
2 years ago
Yeah i am looking for a new bearish wave as illustrated on the NZDUSD trade idea
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WEll done ;)
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