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NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
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NZD/CAD Summer Rally
NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
NZD/CAD Range Trade Boxes
NZD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there…
NZD/CAD Range Trade Boxes
NZD/CAD has been moving over the paste few years in a big range boxes and that's usually the case with a lot of pair crosses as this is their normal behavior. In Figure 1 we can see how this price action looks like. Usually when we enter in the territory of a new range boxes the new boxes that will form in the right side of the chart will use the middle of the range box from the left as the top and as the bottom will use the middle of the box from beneath the price action where most likely there…
NZD/CAD Downward Channel
NZD/CAD is turning from an bullish trend into a bearish trend after we succeed in breaking the upward channel (see Figure 1) Since mid-2013 we have moved in and consistent upward channel and at the same time bullish trend. But we have turned back after we broke away from this channel and current price structure of this down wave looks very stepper signaling the bears are in control and we should expect further downside movement.
From the weekly cha…
Figure 1. NZD/CAD Weekly Chart
From the weekly cha…
NZD/CAD Reversal Pattern
NZD/CAD is turning from an bullish trend into a bearish trend after we succeed in breaking the upward channel (see Figure 1) Since mid-2013 we have moved in and consistent upward channel and at the same time bullish trend. But we have turned back after we broke away from this channel and current price structure of this down wave looks very stepper signaling the bears are in control and we should expect further downside movement.
From the w…
Figure 1. NZD/CAD Weekly Chart
From the w…
NZD/CAD Heading Towards New All Time Highs
NZD/CAD previous all time high exchange rate was at 0.9776 which is coming at risk in coming months, as current up trend is developing in full swing as we manage to breakout above current upward channel and the fact that we had a successful retest of the channel and price is holding above it which adds more to the upward momentum (see Figure 1).
Daily chart also suggest that in coming week we can expect some further consolidations as we appr…
Figure 1. NZD/CAD Weekly Chart. Upward Channel.
Daily chart also suggest that in coming week we can expect some further consolidations as we appr…
NZD/CAD Ready for The Final Spike Up
NZD/CAD has been moving in an uptrend since beginning of the summer and based on Elliott Wave it seems is taking shape of an five wave sequence. Currently we are in the final stage of completing wave number 4. According to Elliott Wave the wave number 4 is a corrective wave and thus is formed by a 3 wave sequence. We already completed that and next step is for a final spike up to complete the bigger 5 wave cycle. (see Figure 1).
Also if we look closely to the recent market action we can see that…
Also if we look closely to the recent market action we can see that…