NZDCAD - As Oil Prices Decrease So Does The CAD!
Analysis:
Bullish Confluences
Bearish Confluences
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Bullish Confluences
- Recent breakout of longer term downwards trend
- In an upwards trend
- Retesting an area of significance
- 50% fib retracement level touched
- Bullish pennant pattern formed & broken out of
- The NZD is the 4th strongest major currency whereas the CAD is the 3rd weakest major currency
- 5K long position increase for the NZD
- 2K short position decrease for the NZD
- 12K short position increase for the CAD
Bearish Confluences
- 5K long position increase for the CAD
- Recent CAD news has been bullish
Stay Safe - The JPI Team
Please feel free to leave any comments you have and like this idea if you agree with us. Any feedback or comments will be read and responded to. We appreciate any comments at all so thank you!
Disclaimer:
This does not constitute as financial advise. We are not responsible for any monetary loss that you endure. Trading is hard to be profitable with and we take losses just like everyone else does too. Our ideas won't always be correct which is why we urge you to always do your own analysis first before entering into the market but please feel free to use our analysis to assist you with yours.
Trade aktif
Our entry requirements have been met and our order has been filled. We are long looking to see the CAD weaken and for price to continuing breaking out to the upside!
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