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Weekly forecast New Zealand Dollar / Canadian Dollar technical chart
Symbol NZDCAD

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.77232 to 0.76679). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (0.77232)
  • Ending of entry zone (0.76679)

DateFebruary 5, 2023 - 20:42
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 0.83350, resumption of uptrend is expected.
  • We make sure when the resistance at 0.88154 breaks.
  • If the support at 0.83350 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 0.87330 on 01/18/2023, so more losses minimum to Major Support (0.83350) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 41.

Take Profits:

  1. 0.78755
  2. 0.79330
  3. 0.80270
  4. 0.81498
  5. 0.82520
  6. 0.83350
  7. 0.84740
  8. 0.86065
  9. 0.87693
  10. 0.90169
  11. 0.93300
Click on the level to view price action history.