NZDCAD sell setup.
Indicators: Downwards trend and support has not yet been hit.
1. Look for a break below 0.8738 area for a sell confirmation.
2. Sell retrace at 0.8796 area.
TP @ 0.8565 but I recommend taking 40-50 pip increments as you trade down.
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Plan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent...
NZDCAD broke uptrend line
price below key level around 0.8800
price also below SMA 100
MACD shows bearish momentum
RSI below 50
so its expect bearish momentum to HVN around 0.8550 then to support level around 0.8300
Plan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
confirmed bearish breakout of a neckline of a h&s pattern on NZDCAD.
now bearish continuation is expected.
if you missed that trade, the best entry is always on a retest.
NZDCAD approaching support at 0.87590 where it could potentially rise further to 0.88790.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
My previous analysis of EURNZD Sell entry was to wait for a daily bear candlestick formation. We have multiple bear candles below the downwards channel on the weekly.
1. Sell at retest of weekly downtrend line @ .8920 area.
2. Current price of 0.8863 area
1. Pair currently trading in downwards channel acting as resistance.
2. Daily Uptrend...