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

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (0.9110 to 0.9170). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

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

  • Beginning of entry zone (0.9110)
    • Support on 08/26/2014
    • Resistance on 09/01/2014
    • Resistance on 09/02/2014
    • Resistance on 12/16/2014
    • Resistance on 12/30/2014
    • Support on 01/29/2015
    • Support on 02/03/2015
    • Support on 02/04/2015
    • Support on 04/30/2015
    • Support on 12/10/2015
    • Support on 02/02/2016
    • Support on 02/16/2016
    • Support on 02/19/2016
    • Support on 02/24/2016
    • Resistance on 02/26/2016
    • Resistance on 03/04/2016
    • Resistance on 06/15/2016
    • Support on 06/22/2016
    • Support on 06/24/2016
    • Support on 07/19/2016
    • Support on 07/21/2016
    • Resistance on 08/29/2017
    • Resistance on 01/11/2018
    • Resistance on 01/12/2018
    • Resistance on 01/17/2018
    • Resistance on 01/18/2018
    • Resistance on 01/19/2018
    • Resistance on 01/31/2018
    • Resistance on 02/05/2018
    • Resistance on 02/08/2018
    • Support on 04/24/2018
    • Resistance on 05/31/2018
  • Ending of entry zone (0.9170)
    • Support on 01/29/2014
    • Resistance on 02/06/2014
    • Resistance on 02/07/2014
    • Resistance on 02/11/2014
    • Resistance on 02/12/2014
    • Resistance on 02/13/2014
    • Resistance on 02/18/2014
    • Resistance on 02/19/2014
    • Support on 05/29/2014
    • Support on 08/19/2014
    • Support on 08/20/2014
    • Support on 08/21/2014
    • Support on 08/22/2014
    • Resistance on 08/26/2014
    • Support on 01/08/2015
    • Support on 02/02/2015
    • Support on 02/05/2015
    • Support on 02/06/2015
    • Support on 03/10/2015
    • Support on 03/11/2015
    • Support on 04/24/2015
    • Support on 04/30/2015
    • Resistance on 05/04/2015
    • Resistance on 12/09/2015
    • Support on 01/25/2016
    • Support on 01/26/2016
    • Resistance on 02/02/2016
    • Support on 02/04/2016
    • Support on 02/05/2016
    • Support on 02/09/2016
    • Support on 02/15/2016
    • Resistance on 02/24/2016
    • Resistance on 02/26/2016
    • Resistance on 06/16/2016
    • Support on 06/23/2016
    • Support on 06/24/2016
    • Support on 06/29/2016
    • Support on 06/30/2016
    • Support on 07/15/2016
    • Support on 07/18/2016
    • Support on 07/19/2016
    • Support on 07/25/2016
    • Trough on 04/12/2017
    • Support on 04/12/2017
    • Resistance on 01/23/2018
    • Resistance on 01/24/2018
    • Resistance on 02/06/2018
    • Resistance on 02/07/2018
    • Resistance on 02/09/2018
    • Resistance on 02/13/2018
    • Support on 04/20/2018
    • Support on 04/23/2018

DateJune 3, 2018 - 13:01
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of downtrend.

Technical analysis:

  • While the RSI resistance #1 at 60 is not broken, the probability of price increase would be too low.
  • A trough is formed in daily chart at 0.8785 on 05/17/2018, so more gains maximum to Trend Hunter Sell Zone (0.9110 to 0.9170) 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 54.

Take Profits:

  1. 0.9000
  2. 0.8930
  3. 0.8860
  4. 0.8785
  5. 0.8640
Click on the level to view price action history.