NZDCAD on the 4h chart has broke as expected the ascending channel.
The price is now moving in a bear flag and according to Plancton's strategy if the market will break below we will set a nice short order.
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Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
Based on the technical analysis, and the recent minor fundamental news
NZDCAD looks bearish to me overall.
I think marketmakers will be pushing the pair down
That is why we are going short
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🏛NZD_CAD broke the falling resistance
And is now trading in an opening wedge
But the pair is weak right now
And is retesting the wedge support line
I think we will see a pullback from the level
But given the aforementioned weakness
I predict only a local movement up
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Analysis on #NZDCAD
simple trend continuation opportunity that may come soon if the market test the trendline support also a key support zone near 0.8700 level, I will look for a reason to get in...
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In our previous analysis, we marked out where price could reverse. Price moved exactly as we expected and pushed up 500pips - See linked chart.
GBPCAD has broken out of the bearish leg and is now making its way up. Expecting price to create a correction before making a big 600 pip move up to previous highs!
Goodluck and as always, trade safe!
Here is our technical view on NZDCAD.
Our analysis is based on purely technical outlook.
According to our chart NZDCAD reached a strong resistance area.
Based on our outlook the price will drop.
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Buy in the area of 0.87569 - 0.87118
Stop, fixing below 0.86854
Goal 1 - 0.87866
Goal 2 - 0.88391
Goal 3 - 0.88820
Goal 4 - 0.89264
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NZD-CAD was trading in a local falling wedge
And now we are seeing a bullish breakout
After the pair retested the rising support
Which makes me bullish and I think the pair will go up
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NZDCAD is approaching support at Buy Entry, in line with 61.8% Fibonacci retracement and 61.8% Fibonacci extension , where we could see a bounce and further upside towards Take Profit, in line with 61.8% Fibonacci extension and horizontal swing high resistance. Stochastics is also approaching support where price has bounced before in the past, showing signs of...
in today’s day trading analysis I will focus on NZD/CAD.
The thing that caught my eye was a very long rotation from which strong trend activity started.
This basically tells us, that BIG trading institution s were building up their Long positions within the rotation, and then they manipulated the price to go upwards.
How BIG Trading Institutions...
Hello Traders Welcome back to another profit day
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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...
". There is still a possibility of temporary retracement to the suggested resistance line (0.8817).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
. NZDCAD is in a downtrend, and the continuation of the downtrend is expected.
. The price is above the 21-Day WEMA, which acts as a...