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...
currency pairs NZDCAD
At the moment, we can see a good entry point for this currency pair to open the trade up and buy.
The entry point is $0.82031, the stop loss point $0.82080 can be good, and in the target we can see $0.84387 and $0.84975 to profit from this currency pair.
... 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...
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...
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...
