NZDCAD
nzd/cad buying sideHello guys i had find this setup in 4h timeframe which is at demand zone and also making good buying setup we have a good opportunity to buy after some confirmation and will put sl at near swing low and target at above channel and plzz do your own analysis before taking any trade if you like my anaylysis plzz like share and follow thank you
💡Don't miss the great buy opportunity in NZDCADTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (.086473).
. 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 an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 62 .
Take Profits:
TP1= @ 0.86818
TP2= @ 0.87144
TP3= @ 0.87396
TP4= @ 0.87679
TP5= @ 0.87976
SL= Break below S2
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💡Don't miss the great buy opportunity in NZDCAD
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.8687).
. 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 an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 68.
Take Profits:
TP1= @ 0.8736
TP2= @ 0.8769
TP3= @ 0.8797
TP4= @ 0.8816
TP5= @ 0.8851
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 (0.89870).
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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💡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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ForecastCity English Support Team ❤️
💡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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Trade well, ❤️
ForecastCity English Support Team ❤️
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
❤️ If you find this helpful and want more FREE forecasts in TradingView
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Now, It's your turn!
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Trade well, ❤️
ForecastCity English Support Team ❤️
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! :)