Hello and welcome to my Trade Idea of the currency pair NZD/CAD.
Lets start with the Top Down Analysis.
Monthly: On the monthly timeframe we see bearish momentum.
Weekly: Weekly is in a very strong downtrend in the last weeks.
Daily: On daily we draw the trendline where we expect that the price made new lows. It could be a very nice trade.
Have a nice day.
NZD/CAD pair is currently in a downtrend after being broke out from an Expanding triangle.
It is currently facing pullback & retesting the broken trend line.
Hence, We expect the pair to be bearish further from here.
After analysis i can say we will see much more bigger UP TREND.
Chance for invest 100% good.
MACD is nezr midlle line 0, that means higher chance for higher UP TREND and better volatility .
Stoch is in good position.
I follow situation on NZDCAD last few days, i can say we have today very strong NZD, and CAD is have bad events results and OIL price is fall....
BUY SET UP NZD/CAD.
I BELIEVE WE COULD BE LOOKING AT A NICE SWING TRADE:
-FIRST OF ALL WE HAVE BEEN BEARISH FOR 5 MONTHS.
SO WE NEED TO MAKE A CORRECTION.
-SECOND IF WE START ON OUR MONTHLY CHART WE CAN SEE A TREND, AND WHERE PRICE IS SITTING NOW WOULD BE THE THIRD TOUCH WICH IS ALWAYS OUR BIGGER MOVE.
- THIRD WE HAVE ALSO A INVERSE HEAD AND SHOULDERS CREATING...