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Weekly forecast New Zealand Dollar vs. Canadian Dollar technical chart
Symbol NZDCAD

Download MT4 template file

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (0.8560 to 0.8495). 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 (0.8560)
    • Trough on 08/15/2018
    • Support on 08/15/2018
    • Resistance on 09/18/2018
    • Resistance on 09/19/2018
    • Resistance on 10/16/2018
    • Resistance on 10/18/2018
    • Support on 10/23/2018
    • Support on 10/30/2018
    • Support on 10/31/2018
  • Ending of entry zone (0.8495)
    • Trough on 09/12/2018
    • Support on 09/12/2018
    • Support on 09/13/2018
    • Resistance on 10/11/2018
    • Resistance on 10/12/2018
    • Support on 10/24/2018
    • Support on 10/25/2018
    • Support on 10/26/2018

DateSat, 01/12/2019 - 21:04
Currentuptrend
Forecastcontinuation of uptrend
Last weekBullish

Midterm forecast:

  • 0.8920 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
  • The RSI bounced from the uptrend #2 and it prevented price from more losses.
  • A trough is formed in daily chart at 0.8915 on 01/08/2019, so more gains to resistance(s) 0.9060, 0.9170, 0.9260 and more heights 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 51.

Take Profits:

  1. 0.8640
  2. 0.8725
  3. 0.8780
  4. 0.8920
  5. 0.9000
  6. 0.9060
  7. 0.9170
  8. 0.9260
  9. 0.9515
  10. 0.9760
  11. 0.9920
Click on the level to view price action history.