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 ...
1/ This paire is down trend channel since a while.
2/ We got an impulse from the top of the channel and the price actions are correcting for more donwside.
3/ Currently i'm looking for a strong break down or one more up move to retest the channel ( left shoulder).
4/ key economic data on both paire will be relased this week.
Trade with care,
Pair almost completed over 2 months long H&S pattern. Waiting for daily close below neckline of 0.8925. If and when the pair close below neckline, the H&S top target could be 0.8600. This gives us a reasonable risk to reward sell setup. Many thnx and happy trading.
This is only my setup idea for this pair , IT IS NOT a signal
-descending channel and strong bearish candle
-bearish engulfing , after multiple price rejection pinbar at resistance zone and descending channel
+Stocastic in oversold
+ Macd istogram in bearish slope momentum
-Bearish Head and Shoulders
-price at support zone , so I am ...
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 ...