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Nzdcadbuy

NZDCAD reversed from resistance, potential drop! NZDCAD reversed off its resistance at 0.841 where it could potentially drop further to 0.838. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Short
by Pepperstone
NZD/CAD POTENTIAL BUY SET UPBUY SET UP NZD/CAD. I BELIEVE WE COULD BE LOOKING AT A NICE SWING TRADE: -FIRST OF ALL WE HAVE BEEN BEARISH FOR 5 MONTHS. SO WE NEED TO MAKE A CORRECTION. -SECOND IF WE START ON OUR MONTHLY CHART WE CAN SEE A TREND, AND WHERE PRICE IS SITTING NOW WOULD BE THE THIRD TOUCH WICH IS ALWAYS OUR BIGGER MOVE. - THIRD WE HAVE ALSO A INVERSE HEAD AND SHOULDERS CREATING ON THE MONTHLY. IN MY OPINION WE COULD FIRST GO A LITTLE LOWER CREATING A FAKE OUT FOR AROUND 40-50 PIPS. WE HAVE ALSO NEWS COMING FOR CAD THAT SOULD BE BEARISH FOR CANADIAN PAIRS, WICH COULD HELP THIS PAIR PUSH UP. I MADE TWO SETUPS FOR THOSE WHO LIKE TO HOLD THE TRADES, THE FIRST TAKE PROFIT AREA IS OUR BLUE ZONE. SO LETS SEE WHAT HAPPENS. ALWAYS USE GOOD RISKMANAGEMENT!
Long
by Yeison7
1