market sentiment continues to improve, higher yielding currencies across the board have been on the advance with the swissie and the greenback coming under increasing pressure.
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market sentiment continues to improve, higher yielding currencies across the board have been on the advance with the swissie and the greenback coming under increasing pressure.
as we can see the weekly chart the pair succeded to close under strong up trend with good bearish candle. i think it should go more down to test the level of 0.79500. if it can close under it then more down expected. and do not forget that all this can happen with some correction
the pair has two strong resistance levels and each one could signal the end of present rises and the move to a new wave of decreases.
We would point out that a closure above the level of 0.8300 will be used as a warning for an immediate realization of a sell position. The forecast for the fall is to the low support level of 0.7200 for the medium to long term.
I'm long NZD/CAD from 0.7970 eyeing targets just below the 100% Fib extension at 0.8007. Stops below 0.7960
the pair and as we can see from the chart has closed it's weekly candle under the level of 0.8100 , so , that's mean the down trend is still standing and the pair is heading to 0.8000 then 0.9900
If a M15 close above 0.8300 buy only and do not sell. If price closes back below it again do nothing.
If a M15 close below 0.8100 sell only and do not buy. If price closes back above it again do nothing
The range 0.8300 and 0.8100 is neutral area, any trade done in between is personal decision and not part of this analysis
we take into account recent economic data, noting the ascending channel formation dating back to June 14th as the pair ranges between the 76.4% and 100% long-term Fibonacci extensions taken from the June 9th 2010 and March 17th 2011 troughs.
NZD/CAD reversed sharply after the opening bell at Wall Street and tumbled from 0.8220 to 0.8135, where weekly lows lie.
as we can see the weekly chart the pair succeded to close under strong up trend with good bearish candle. i think it should go more down to test the level of 0.79500. if it can close under it then more down expected. and do not forget that all this can happen with some correction .