NZD weakness over CHF push price lower, channel up is broken and retest. AO crossing over zero line with bearish momentum, small divergence as well. Price can consolidate sideways more but when DC lower band level 0.6675 is broken should go short for sure.
Currency Pair: NZD.CAD
Time Frame: Weekly, Daily, 4hr & 15min
Predicted Direction: Short
NZD.CAD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
According to the elliot wave theory, FX:NZDCAD. is at its correction phase, and using the fib extension we get T1 for the small ABC wave and T2 for the bigger wave; T1 is short term while T2 is mid/long term
Another thing to keep in mind, is that China is expected to report on Monday that economic growth cooled to its slowest in 28 years and this means that CNH ...
Potential swing opportunity forming on the weekly time frame for NZD/CAD.
1 - Multiple rejections on the long term trend line
2 - Potential Head and Shoulder pattern forming on the weekly timeframe
3 - Retest of resistance
Here we have the NZDCAD pair with a possible short opportunity. The pair has been in a downtrend on the daily timeframe, shown by the red falling trendline. The shorter-term uptrend on the 4-hour chart seems to have found resistance at the 78.6% Fib retracement, signalling that the price correction has finished and that the underlying downtrend may ...
BUY & SELL After Breakout Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
Bull rally trend line broken, price had pulled back up and re tested the level as resistance but I missed the entry. We now have a structure that is offering a second opportunity to short.
Sell @ market price 0.90811
SL @ 0.92002
TP @ 0.89497
If you had missed the short opportunity on NZDCAD currency pair. No worries, as i mentioned before on NZDUSD, we have H&S formation. Neckline wasn't broke yet, now our next interest is to see that breakout of neckline and re-test to go short again to the breakout zone.
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After hitting the top of the major down trendline, the sellers have started stepping in to push the price down.
Consecutive bearish price bars show that selling is strong.
Will continue to ride my short positions.