Trade Idea: Selling NZDCAD
Reasoning: Selling into downtrend resistance on the daily chart
Entry Level: 0.84659
Take Profit Level: 0.8406
Stop Loss: 0.8496
Risk/Reward: 2/1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The...
Trade Idea: Selling NZDCAD
Reasoning: Fading NZDCAD
Entry Level: 0.7747
Take Profit Level: 0.7625
Stop Loss: 0.7767
Risk/Reward: 5.82:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The technical analysis , like all...
Trade Idea: Selling NZDCAD
Reasoning: Filled the overnight gap at likely to head lower
Entry Level: 0.8016
Take Profit Level: 0.7962
Stop Loss: 0.8031
Risk/Reward: 3.67:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The...
Technical View of NZDCAD:
NZDCAD - 1 HR
Pattern: H&S - longer term developing, Wedge - short term
Support: 0.89615, 0.89475, 0.89370, 0.89155, 0.88685
Resistance: 0.89940, 0.90105, 0.90175
How to trade this idea:
Once out of short term wedge, you could trade the pull back and trade it to next support area or resistance - to whatever direction it goes...
While a number of technicals point to a bit of an upside trend, this should be limited by short-term resistance followed by a correction back to the long two-year channel that has formed. Daily FX's Nick Cawley called this the trade of the year to short this pair. So far its not panning out. For more, check out www.anthonylaurence.wordpress.com
