Tag: NZDCAD Analysis

NZDCAD broke the short term range

Hope you had a great weekend!

What do you think about the market this week? It isn’t as clear as it was least week is it? Please share your thoughts!

One of the few currencies that I’m trading is the NZDCAD. Last week it traded in a short term range but earlier today it broke through the top of the range:

As long as the NZDCAD trades above 0.8350 I’ll be looking for long opportunities.

Are you trading this one?

Have a great week ahead!

Raul Lopez
Forex Coaching

forex, NZDCAD Analysis

My trading plan for the NZDCAD

Happy Valentine’s day everyone!

What are your thoughts for the NZDCAD? Right now it is trading in a short term range, so for now range trading, but I‘ll be ready if it breaks either extreme of the range:

If it trades in between 0.8348 and 0.8264 I’ll keep trading the range, short opportunities around the top of the range and long opportunities around the bottom of the range.

If it breaks the upper resistance level, it will trigger a bullish market condition and only long opportunities will be in play.

If it breaks the bottom of the range (0.8264) I’ll only be looking for short opportunities.

What do you think?

Good luck!

Raul Lopez
Forex Training

forex, NZDCAD Analysis

First trade of the week on NZDCAD

Hope you had a great weekend and which you the best of lucks for the week ahead!

I recently did update the daily charts of the NZDCAD, I got rid of an intermediate level around 0.8142, which sets its bullish market condition. The idea is to trade based on what the market is telling me, and if it is not taking in consideration an important level, why should I?

Here are the details of my trade:

Entry: 0.8111
SL: 0.8072
TP: 0.8336

Trade Safe!

Raul Lopez
Forex Training

forex, NZDCAD Analysis

NZDCAD – In a bullish condition (large spread though)

Do you trade currency crosses with large spreads?

I do, I trade based on what has clear market condition not based on the spread of a currency pair (usually the spread on the NZDCAD is larger than other pairs, such as the EURUSD or the USDJPY). The reason I don’t care about spreads is that I only risk 1% of my account per trade, and the spread is factored in, also I’m a swing trader :) (I’m not a scalper where it can be a problem).

Anyway, I’m waiting for the NZDCAD to retrace back to the main support level:

If it retraces back and forms a significant pattern with upward pressure I’ll definitely go long.

Trade Safe!

Raul Lopez
Forex Course

NZDCAD Analysis

NZDCAD – Short signal

The NZDCAD is trading in a very clear bearish market condition, it retraced back to the ST resistance level and formed a significant pattern with downward pressure:

Here are the details of my order (still pending)

Entry order: 0.7906
SL: 0.7946
TP: 0.7682

This trade has the possibility to be scaled up to the weekly chart, we’ll talk about it in future posts.

Trade Safe!

Raul Lopez
Forex Training

NZDCAD Analysis

NZDCAD – Clear bullish market condition

The NZDCAD is trading in a very clear bullish market condition, yesterday it broke through an important LT support level and now it is trading above every level in the short term charts:

I’m currently looking for long opportunities in the NZDCAD.

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What do you think about the market these last days? I think it is getting clearer doesn’t it? At least it is clearer than it was in the last two weeks…

Trade Safe!

Raul Lopez
Forex Training

NZDCAD Analysis

NZDCAD & GBPNZD Trades update

My short trade in the GBPNZD hit my TP order at 2.0476 for a profit of +235 pips :)

I decided to close the NZDCAD trade at 0.7663 for a profit of +70 pips, it was 8 pips away from my TP order at one point and I’m not going to be able to monitor it and its just not worth it to hold it over the weekend for 30 pips…

All of you have a great weekend!

Regards,

Raul Lopez
Forex Training

GBPNZD Analysis, NZDCAD Analysis

NZDCAD – Long signal

Yesterday I wrote about the NZDCAD and its bullish market condition, a few hours after my post I took this long signal in the NZDCAD. It hasn’t been able to break the ST range, if it does break up, I’ll be able to move my SL around my entry level:

Here are the details of my trade:

Entry: 0.7593
SL: 0.7561
TP: 0.7691

Trade Safe!

Raul Lopez
Forex Training

NZDCAD Analysis

NZDCAD – Very clear bullish condition

The NZDCAD is trading in a very clear bullish market condition. you know that when the market is bullish, only long opportunities should be in play and this is one of those cases where the market condition is as clear as water, the market breaks through an important level and continues its way up until it reaches the next LT resistance level:The next LT resistance level in the NZDCAD is around 0.7721

Trade Safe!

Raul Lopez
Forex Training

NZDCAD Analysis