Spoiler:
Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: There is a key area of support at 0.8944-0.8926. And also the market has reached the oversold area and there is a gap at 0.8973 which coincides at pivot point
Recommendation: Buy
Thread: Nzd/Cad
Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: There is a key area of support at 0.8944-0.8926. And also the market has reached the oversold area and there is a gap at 0.8973 which coincides at pivot point
Recommendation: Buy
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The NZD was given a further boost after local retail sales posted a record 2.7 percent jump in the first quarter, blowing away analyst consensus for a 1.5 percent increase and any thoughts of a near-term interest rate cut. Gold jumped, rising well above $1,200 an ounce to a five-week high as the dollar fell.
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Daily Forecast
Major Trend: Bullish
Time Frame: H1
Reason: Terliaht Fibonacci 261.8 coincide on the third resistance today at 0.9064. And the upward movement is still supported by stochastic.
Recommendation: Buy
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pair- nzd/cad
time frame analysis- m30
the down movement of the price is hold at the support 0.8815 level and moving up. its break the resistance trend line at 0.8870 level. if its move above the 0.8965 then hold the long entry with profit target at higher resistance at 0.9055
good luck
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Daily Forecast
Major Trend: Bearish
Time Frame: Daily
Reason: There is a gap in the 0.9040 area, but if it can not be closed, then the market will remain in a 0.8984 to correction
Recommendation: Buy
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pair- nzd/cad
time frame analysis- m30
the price is making strong down movement from the resistance at 0.9055 level with making double top chart pattern. its break the support at 0.8975 level. the price may make correction from 0.8870 level. long with profit target at 0.8960 and stop loss at 0.8850
good luck
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Daily Forecast
Major Trend: Bearish
Time Frame: H1
Reason: There is a gap at the opening of this week at 0.9038. The possibility of market will close when passing through 0.8935
Recommendation: Buy with a target of 0.8935
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Official data showed on Friday, that the Canadian unemployment rate remained unchanged unexpectedly in the previous month. In a report, the Canadian statistics were told that the Canadian unemployment rate remained unchanged at a seasonally adjusted 6.8% from 6.8% in the preceding month. Analysts had expected Canadian unemployment rate to rise to 6.9% in the previous month
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pair- nzd/cad
time frame analysis- m30
the major trend of the price is down side but down movement is hold at the support at 0.8990 level and making correction. if the price is moved below the daily support 0.8974 then short with profit target at 0.8900 and stop loss at 0.9040
good luck
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For the Canadian dollar was issued yesterday PMI issued by the Ivy Business School and who scored a strong rise from 47.9 to 58.2 on the monthly level is much better than expected and that were monitored and rising to 50.1 today from Canada also will be released at 3:30 pm GMT Saudi Arabia building permits and is forecast to rise by 2.1% on monthly level
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
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