💡Don't miss the great sell opportunity in NZDCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.89870).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 39.
Take Profits:
TP1= @ 0.89345
TP2= @ 0.89060
TP3= @ 0.88552
TP4= @ 0.88021
TP5= @ 0.87479
SL: Break Above R2
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NZDCAD
💡Don't miss the great sell opportunity in NZDCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.8985).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40 .
Take Profits:
TP1= @ 0.8840
TP2= @ 0.8755
TP3= @ 0.8600
TP4= @ 0.8460
TP5= @ 0.8240
SL: Break Above R2
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💡Don't miss the great sell opportunity in NZDCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.8985).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 40 .
Take Profits:
TP1= @ 0.8840
TP2= @ 0.8755
TP3= @ 0.8600
TP4= @ 0.8460
TP5= @ 0.8240
SL: Break Above R2
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💡Don't miss the great sell opportunity in NZDCADMidterm forecast:
While the price is below the resistance 0.9330, beginning of downtrend is expected.
We make sure when the support at 0.8985 breaks.
If the resistance at 0.9330 is broken, the short-term forecast -beginning of downtrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the peak at 0.91615 on 2020-12-03 and the peak at 0.9328 on 2021-02-24, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
A peak is formed in daily chart at 0.9330 on 02/24/2021, so more losses to support(s) 0.9160, 0.9060 and minimum to Major Support (0.8985) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
Trading suggestion:
There is possibility of temporary retracement to suggested Sell Zone (0.9060 to 0.9160). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
. Beginning of entry zone (0.9060)
. Ending of entry zone (0.9160)
Take Profits:
TP1= @ 0.8985
TP2= @ 0.8870
TP3= @ 0.8755
TP4= @ 0.8600
TP5= @ 0.8460
TP6= @ 0.8240
TP7= Free
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💡 Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.9225). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 45.
Take Profits:
TP1= @ 0.9140
TP2= @ 0.9052
TP3= @ 0.8985
TP4= @ 0.8937
TP5= @ 0.8865
SL: Break Above R2
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💡 Don't miss the great buy opportunity in NZDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.9165). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 60.
Take Profits:
TP1= @ 0.9200
TP2= @ 0.9225
TP3= @ 0.9255
TP4= @ 0.9300
TP5= @ 0.9350
SL= Break below S2
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💡Don't miss the great sell opportunity in NZDCADTrading suggestion:
". There is still a possibility of temporary retracement to suggested resistance line (0.9162).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. NZDCAD is in a downtrend and the continuation of downtrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 0.9075
TP2= @ 0.9034
TP3= @ 0.8979
TP4= @ 0.8902
TP5= @ 0.8746
SL: Break Above R2
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💡 Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.91). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 35.
Take Profits:
TP1= @ 0.8995
TP2= @ 0.8930
TP3= @ 0.8860
TP4= @ 0.8780
TP5= @ 0.8625
SL: Break Above R2
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💡Don't miss the great buy opportunity in NZDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.875). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 66. a
Take Profits:
TP1= @ 0.8790
TP2= @ 0.8825
TP3= @ 0.8862
TP4= @ 0.8940
TP5= @ 0.9010
SL= Break below S2
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Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.895). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.8858
TP2= @ 0.8795
TP3= @ 0.8745
TP4= @ 0.8685
TP5= @ 0.8590
SL: Break Above R2
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NZD/CAD Bearish Currency of the week!OANDA:NZDCAD
This chart has a beautiful confluence across the Weekly, Daily & 4-Hour time frames.
The price has respected the trend line on the weekly chart since 2016! With less than 4 hours to close the week, it's rejecting the 200 EMA and is likely to close below the trend line with a Doji .
On the daily chart , we see that the price has not been able to breach the 0.89400 level. On 22nd July we got a Gravestone Doji followed by a negative covering candle.
On the 4-hour time frame, the price has given us a breakdown below the 13 EMA . Now it is taking support from the trend line below.
Our idea is to enter a short trade in the 4-hour time frame once the price breaks below this trend line with TP1 at 0.87300 and trail the stop loss until we get TP2 at 0.83000 in the next few sessions.
P.S. I am keeping the analysis simple with minimal drawings and indicators! Will really appreciate any comments, feedback, suggestions, etc! :)
Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.876). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 40.
Take Profits:
TP1= @ 0.8715
TP2= @ 0.8685
TP3= @ 0.8620
TP4= @ 0.8570
TP5= @ 0.8530
SL: Break Above R2
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NZDCAD GARTLEY pattern on 1 hr chart. Hello Trader, Here is the full analysis on NZDCAD
1) On 1hr chart we can see it as formed gartley pattern and possible reversal expected.
2) Price is moving toward strong resistance zone and can test this zone for up move and if it fails then on basis of gartley and strong resistance one can look for short.
How can you support me:
1) Like my idea.
2) Follow me for more analysis
3) I will Opening Telegram and instagram channels soon.
Feedback:
Please share your feedback in comments and this will help me to improve my drawing and analysis .
Don't miss the great buy opportunity in NZDCADTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.8443). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 58.
Take Profits:
TP1= @ 0.8555
TP2= @ 0.8684
TP3= @ 0.8798
SL= Break below S2
Don't miss the great sell opportunity in NZDCADTrading suggestion:
. There is still a possibility of temporary retracement to suggested resistance line (0.8495). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. NZDCAD is in a range bound and the beginning of downtrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 32.
Take Profits:
TP1= @ 0.8425
TP2= @ 0.8345
TP3= @ 0.8245
SL: Break Above R2