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CANADIAN DOLLAR / NEW ZEALAND DOLLAR

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CADNZD trade ideas

NZDCADNZD/CAD 4-Hour Analysis: Bullish Trend Reversal with Retest Strategy Chart Overview: This NZD/CAD 4-hour chart analysis highlights a recent bullish reversal pattern and identifies potential retest and continuation patterns. The analysis marks critical support and resistance zones, along with key swing highs (LH) and lows (LL), indicating potential price movements. Key Points: Trend Analysis: The chart shows a consistent bearish trend characterized by lower highs (LH) and lower lows (LL). Recent price action indicates a break in this pattern with the formation of a higher low (HL), suggesting a potential trend reversal. Support and Resistance Levels: Support: Significant support levels are marked around 0.8335 (purple zone). This zone was a previous resistance area and is expected to provide strong support after the breakout. Resistance: The next key resistance level to watch is around 0.8395. Bullish Reversal Signal: The price has broken above the key resistance zone at 0.8335, indicating a potential reversal from the bearish trend to a bullish trend. The price is currently trading above the support zone, indicating a potential bullish continuation. Potential Price Path: The analysis suggests a pullback towards the support zone around 0.8335, followed by a bullish continuation towards the next resistance level around 0.8395. The projected price path is indicated by the upward arrow, showing the expected move after the pullback. Market Sentiment: The sentiment is bullish given the breakout above the resistance zone and the support holding. Traders should look for higher lows (HL) and higher highs (HH) to confirm the bullish trend. Trading Plan: Look for buying opportunities on pullbacks towards the support zone around 0.8335. Consider placing stop-losses just below the support level to manage risk. Target the resistance level around 0.8395 for potential take-profits. This analysis suggests a potential bullish continuation for NZD/CAD, with buying opportunities on pullbacks towards the support zone. Traders should ensure proper risk management and stay updated with any external economic factors that may influence the price movement.
Long
by harshkjogadia
NZDCAD MULTI TIME FRAME ANALYSISHello traders , here is the full multi time frame analysis for this pair, let me know in the comment section below if you have any questions , the entry will be taken only if all rules of the strategies will be satisfied. wait for more price action to develop before taking any position. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. 🧠💡 Share your unique analysis, thoughts, and ideas in the comments section below. I'm excited to hear your perspective on this pair . 💭🔍 Don't hesitate to comment if you have any questions or queries regarding this analysis.
Short
by okako_trading
My view about NZDCAD According to my analysis of NZDCAD, I have observed that there has been a break in the minor trend and it appears that the currency pair may fall from the resistance area that I have marked on the chart for the FIB retracement. Additionally, upon retrace, it seems that NZDCAD may reach the higher time frame's previous high. Based on my strong analysis, I believe that there are chances of a downward movement once the pair touches the high, which is also evident in my prediction in the chart. It's important to note that there may even be chances that the major trend will break downwards. Overall, my analysis suggests that there could be a potential decline in NZDCAD in the coming days. However, it's essential to consider any external factors that may affect the currency pair's movement. Let's keep an eye on it!
by ludba999
FOMC and CPI news increased NZD positionFollowing the Canadian CPI report and related FOMC minutes, the Canadian dollar remained unchanged from its base of 1.3700. In case you missed the data, both headline and core inflation are down slightly, potentially leading the Bank of Canada (BoC) to take a more neutral/accommodative stance. Central bank governor Tiff Macklem is speaking out, and given his recent comments that minimal growth and inflation are now easing, the message of caution may be clear. Currently, the foreign exchange market predicts that interest rates will be cut by a cumulative 80 basis points by December 2024, and that monetary easing will begin around April to June. PTKT: Given the decline in the Canadian dollar, investors can resort to a “buy NZDCAD” strategy at the current price, stop loss 0.8220 and target 0.8350.
Long
by TrategySherpa
NZD/CAD: Bearish Engulfing Signals Potential Trend ReversalDescription: The NZD/CAD chart is currently exhibiting a notable technical pattern that may signal a shift in market sentiment. A bearish engulfing pattern has emerged, featuring a smaller bullish candle followed by a larger bearish candle that completely engulfs its predecessor. Technical Analysis: The bearish engulfing pattern often indicates a transition from a bullish phase to a bearish one. This suggests a potential weakening of the previous upward trend, with sellers gaining momentum. Traders interpreting this pattern may anticipate further downward movement in the NZD/CAD pair. Key Considerations: Effective trading involves a comprehensive analysis. It's essential to supplement this technical insight with a holistic view of other indicators, prevailing market conditions, and fundamental factors influencing the currency pair. Risk Management: Prudent risk management is paramount. Traders are advised to implement risk mitigation strategies such as setting stop-loss orders to manage potential losses in this evolving market scenario.
Short
by Sefinsha