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Nzdcadlong

NZD/CAD long setup- NZD/CAD has shown a decisive break above 20-DMA, currently hovers around 50-DMA at 0.8855 - RSI biased higher, gaining upside traction at 56 levels - Stochs are biased higher, momentum studies are bullish - We see bullish divergence from price action on RSI and Stochs Support levels - 0.8787 (20-DMA), 0.8785 (5-DMA), 0.8740 (Sept 12 low) Resistance levels - 0.8905 (23.6% fib retrace of 0.87581 to 0.86417 fall), 0.8929 (Nov 1 high), 0.90 (100-DMA) Good to go long on breakout above 50-DMA at 0.8855, SL: 0.8785, TP: 0.89/ 0.8930/ 0.90.
Long
by FxWirePro
6 clues why i think NZDCAD could go higherHey guys, i've written down some of the key reasons i'm willing to long this market. First, we have a daily Bat pattern that's been completed but that never reached its target level (nor broke the X point) therefore it's still valid. At that level we also have a daily structure (yellow box) that could act as support again. Ultimately, in the daily chart we can see some long wicks to the bottom together with an engulfing pattern showing some buying strength. This engulfing is also represented on this chart (4H) in the form of a rally that broke into new highs in the recent days, right after a double bottom. Given the case, it's a nice opportunity to trade the 2618 strategy that consists on buying/selling the 618 Fib retracement of the leg that breaks the double top/bottom's neckline. Stops below the lows, targets as shown up here. If you have any idea/comment, let me know. Otherwise, see you in the next chart! P.S. Sorry for the last 2 weeks without a videoanalysis but i was very busy. I'm sure i'll be back next week!
Long
by Roker1
Bunch of clues on NZDCADHey guys, i've written down some of the key reasons i'm willing to long this market. First, we have a daily Bat pattern that's been completed but that never reached its target level (nor broke the X point) therefore it's still valid. At that level we also have a daily structure (yellow box) that could act as support again. Ultimately, in the daily chart we can see some long wicks to the bottom together with an engulfing pattern showing some buying strength. This engulfing is also represented on this chart (4H) in the form of a rally that broke into new highs in the recent days, right after a double bottom. Given the case, it's a nice opportunity to trade the 2618 strategy that consists on buying/selling the 618 Fib retracement of the leg that breaks the double top/bottom's neckline. Stops below the lows, targets as shown up here. If you have any idea/comment, let me know. Otherwise, see you in the next chart! P.S. Sorry for the last 2 weeks without a videoanalysis but i was very busy. I'm sure i'll be back next week!
Long
by Roker1
1
NZDCAD - Potential Bat Pattern on H4 ChartMy previous idea on the bullish bat pattern spotted on daily chart has reacted but has not hit TP1. Another bullish bat pattern is about to complete soon on H1 chart , but I might not be awake to update this idea. RSI is at oversold level already, I will still wait for pattern to complete before making my next decision. R:R at 1.3 (TP1) and 2.2 (TP2). Might actually be a good long entry for traders who did not long NZDCAD previously, do check out the related idea below.
Long
by lyl89
NZD/CAD long setupNZD/CAD has held major trendline support at 0.8740 in last week's trade. The pair has edged higher to break 20-DMA resistance at 0.8922, bias higher. Technical indicators support upside in the pair. RSI and stochs are biased higher and MACD is showing a bullish crossover on signal line. Close above 20-DMA raises scope for upside, next major resistance seen at 0.9010. On the flipside, 20-DMA at 0.8922 is immediate support, we see weakness on break below. We evidence bullish divergence on RSI and Stochs which adds to bullish bias. Support levels - 0.8922 (20-DMA), 0.8876 (5-DMA), 0.8755 (trendline) Resistance levels - 0.8980 (23.6% Fib retrace of 0.9758 to 0.8740 fall), 0.9015 (trendline), 0.9113 (Aug 29 high) Good to go long on break above 0.9015, SL: 0.8920, TP: 0.91/ 0.9140/ 0.9170.
Long
by FxWirePro