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I have been waiting for this pair to break the support level and retest for sometime now, sam with NZDUSD but its been sluggish, break happened yesterday and retest happened at the asian session where the nzd GDP q/q came out positive for NZD, i still believe in my Technical Analysis on this pair with the confirmation candle
A new sell trade was identified on the NZD/CAD Daily chart this morning. You can read my notes on the attached screenshot regarding my thoughts on this setup. And I would just tighten up the partial buy trade that is still on to give it some protection. If in a jurisdiction where you can't trade both ways, then I would close the buy and concentrate on the sell...
NZD - Weak Bearish
1️⃣ A negative market environment can depress high-beta currencies such as the NZD.
2️⃣ The NZD was also weighed down by weak economic data from China on Wednesday.
CAD - Weak Bullish
1️⃣ Rising crude oil prices can support the strength of CAD.
2️⃣ The annual inflation rate in Canada accelerated to 4.1% in August of 2021 from 3.7% in July and...
Close to RSI 70% level (oversold). Can't break the 0.903 resistance level. Forming tweezer top candlestick pattern in a daily chart. Brokedown ascending channel and forming a descending triangle. It might be Bearish Reversal. If it broke down 0.8996 to descending triangle possible to drop down to 0.8838 or more.
It will be a good confirmation for entry break...
Short NZDCAD , it looks like that NZDCAD is forming head and shoulder pattern on Monthly chart. It has also broken the uptrend li8ne as well as the support go short on the retest of residence with good risk reward ratio
On this pair we see a potential sell, if this uptrend break is confirmed and we break this support we can enter on a sell with really great chance to see the 0.5 levels on this impulse, we could see further correction to 618 but we need to check the strenght of the correction. If this support resist we can see this uptrend being continued and testing the 0.91...
this time I mapped NZDCAD with a risk reward ratio of 1:6.5 if it is in full accordance with the farthest target.
the assumption is that if you risk 2% of the capital, then when the price reaches target 1, you have saved 1:3 if it is according to the plan, the farthest target saves profit is 12% of the capital.
this analysis is not an invitation ......
don't trade before SELL stop, if you get 20 to 30 pips kindly close, its good for investment 2% risks.
if you wanna more pips fully risks for yours.
we are only try to hit baby pips if you like this analysis, please support our idea by hitting the like button and share to your frnz. we will support start to end trading
have a great trading!
NZDCAD Is at the resistance zone with RSI at over sold I'm currently expecting bears to come in and push the price lower . Watchout and trade with confirmation. Kindly like and follow for more chart setup updates.
This pair has been on this range since the start of July and now we are looking to once more test it’s resistance, the resistance between 0.88600 and 0.88800 its pretty strong and as soon as we have a candle try and break the resistance but close back inside we can short it for a good trade, we can look for 180 pips. If the 4hr candle does close above the...