CADNZD is currently demonstrating a robust bullish momentum within a significant support zone, coupled with adherence to an ascending trendline, suggesting a favorable bullish trajectory. This analysis delves into key technical indicators to assess potential trading opportunities.
Key Technical Factors:
1. Bullish Momentum:
CADNZD exhibits a notable...
... now that that the Kiwies reelected the Communists. Of course it's Commie vs. Commie thus, this will be a massive short, eventually.
But for now, it's a LONG.
Here is the Daily
The CADNZD was under the bearish domain was able to reverse and break through the strong resistance zone. I could expect a pullback and retest of the critical region to further bullish continuation, allowing the placing of a long entry with the following characteristics.
The order:
Type: buy-limit
S/L: 22 pips - R:R | 1:2.5 -
T/P: aiming towards the trendline...
With the price action approaching an old support level from last year's April, we could expect a pullback before getting enough force to continue its downward movement.
To the previous demand zone, this pullback will encounter a short entry to capture the bearish momentum ahead.
The order:
Type: sell-limit
S/L: 41 pips - R:R | 1:3 -
T/P: aiming towards the...
From a higher time frame, specifically W1, the price action has reached the ascending channel's support line. The price structure should now continue to the upper-level resistance.
Now, diving into the price structure at H4 to get an entry-level, it is possible to realize that we need to wait for the breakout of the descending trendline before making any...
Price action took its time but happened. Hopefully, the market brings some bearish force before closing and reach the target.
The order:
Type: sell-limit
S/L: 40 pips - R:R | 1:3 -
T/P: support level
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With the price action trending into a descending channel and bouncing from the 18 EMA, a short entry can capture the bullishness with the New Zeland dollar.
With an expected pullback to the previous support level, the following order is placed
The order:
Type: sell-limit
S/L: 40 pips - R:R | 1:3 -
T/P: aiming towards a previous support level.
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*** If you...
The Canadian dollar has been into a consolidation mode, with CADNZD recently bouncing from a low level from December 2019 and experiencing a price compression, an uptrend breakout is most expected. It is allowing the placement of a buy order to capture the forthcoming upward momentum.
The order:
Type: buy-stop
S/L: 73 pips - R:R | 1:3 -
T/P: aiming towards the...
Price action under bearish pressure has reached a strong support level, now expecting the price to pullback will allow a sell-limit entry order. However, if the price action can manage the breakout of the current level setup, it will be changed to the same sell-limit. Still, entry at the current level, expecting the used retest of the level before downtrend...
