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NZD/CAD Heading Towards New All Time Highs

Daytrader21 Publié 15 juin comme Analyse sur NZD/CAD, Cible: 0.9418, Date: 1 de août, 12:00 GMT  dans #Technical analysis #Volatility #Consolidation #Up Trend #NZD/CAD #Upward Channel #Momentum
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).
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…
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5 Commentaires
Daytrader21 avatar
Daytrader21 22 juin

Update 1: It seems we have push a little too much lower from my projection of 0.9450 to act as support, now we should look carefully for 0.9300 to act as strong support.and see the market move in a tight rage from here on. The price structure of this move is very weak so don't expect any further downside movement.

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Daytrader21 7 juillet

Update 2: As expected we have start consolidating as per my projection from Figure 2(green box). And price structure suggest further consolidation between 0.9250 support zone and 0.9450 resistance zone.

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Daytrader21 12 juillet

Update 3: We're now somewhere around the middle box (see Figure 2 green box) which should provide some resistance. Although we have already hit our target as per my analysis we should expect further consolidation. The next big resistance level remains 0.9500 which is an important psychological level, and break above that level can invalidate my analysis

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Daytrader21 19 juillet

Update 4: We're still within that green box(see Figure 2) and between 0.9500 resistance level and 0.93 support level. Until one of this two level gives up expect further consolidation. But as per my analysis 0.9300 level should hold and see the market go up

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Daytrader21 26 juillet

Update 5: Unfortunately we broke 0.9300 round number and support level which currently makes this pair looks very bearish and I'm not sure if there is enough time to gain momentum back to the upside. In order for that to happen we need here a quick bounce and a regain of the 0.9300 level as soon as possible.

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NZD/CAD Ready for The Final Spike Up

Daytrader21 Publié 29 nov comme Analyse sur NZD/CAD, Cible: 0.8768, Date: 2 de janvier, 12:00 GMT  dans #Technical analysis #Support #Resistance #Consolidation #Elliott Wave #Up Trend #NZD/CAD #Momentum
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…
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5 Commentaires
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shanziester 2 déc

very nice analyis

shanziester avatar
shanziester 2 déc

analysis**

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Daytrader21 9 déc

Update 1:Although we broke above 0.8780 the market didn't close strong enough to keep the upside momentum going. We should see the market turn back inside the range and close below 0.8780 and become resistance again

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Daytrader21 14 déc

Update 2:It seems the break above 0.8800 resistance level was a false breakout as we turned back into the 0.8560-0.8780 ranging zone. It seems that wave 4 has not been completed and instead of an ABC correction it may form a zig-zag pattern which in turn suggest the market will stay in this range zone for an extended period of time.

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Daytrader21 1 jan

Final Update: Target has been hit as we're just 16 pips away from the ideal 0.8768 target. We had 2 strong rejection from the strong 0.8800 resistance level which has capped the upside movement. As expected based on Elliot Wave analysis wave 4 has been developing in quite a wide range. My forecast was very accurate on this pair.

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Aussie: Current Up movement is Deceptive

Daytrader21 Publié 18 oct comme Analyse sur AUD/USD, Cible: 0.9570, Date: 2 de décembre, 12:00 GMT  dans #Technical analysis #AUD/USD #Bear #Elliott Wave #Up Trend #Cycle #Corrective
Aussie have been trading to the downside in a strong fashion way since beginning of the year. Only recently the market has pick up after the USD negative sentiment across the board. Current up movement is still corrective in nature and we expect the market to resume the downtrend, we're still in a bear market.
Although we have complete a 5 wave cycle since we break to the downside (figure 1, red wave notes) this is just the first wave of higher degree. The reason why we may assume this is the…
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Daytrader21 25 oct

Update 2: The sell of from .9750 resistance zone has been confirmed today as the downward pressure is still in place. Although the market has found support at .9570 level I suspect this is a minor level the first major support come in to play at .9530 and here I'm expecting the market to bottom out and the upward momentum to gain traction again for a retest of the highs before to resume downward.

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Daytrader21 2 nov

Update 3: The downside momentum has continued in recent days after we had established a swing high at .9750. The current down leg is developing a 5 wave movement and we have finished the wave 5 of wave III, so I'm expecting one more leg down before any recovery. The final support should be at 0.94-0.93 from where I'm expecting the market to recover the recent loses.

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Daytrader21 8 nov

Update4: As I've said in my previous update we indeed find support at 0.94. I'm expecting this to hold as the wave I is already completed we had a 5 wave decline from 0.9750 swing high. Now we are expecting retracement in form of an ABC correction which will form wave II.

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Daytrader21 15 nov

Update 5: the current down wave has took shape of a five wave decline and it seems 9270 is holding as support level. From here we should expect a three wave correction which should give us a price near our target. The wave 4 of this 5 wave sequence is 0.9540 the market should end the wave C of this correction above that level near our 0.9570 target

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Daytrader21 22 nov

Update 6. Aussie it seems it has change direction and my prediction was WRONG. The market seems to go retesting previous low 0.8950

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USD/CAD Technical Analysis: Early Topping Signs Emerge

Daytrader21 Publié 29 juin comme Analyse sur USD/CAD, Cible: 1.0330, Date: 1 de août, 12:00 GMT  dans #Technical analysis #USD/CAD #Elliot Wave #Sell #Usdcad #Up Trend #Market Top #Corrective Phase
From the daily perspective usdcad remains within an uptrend channel and as Elliot wave suggest we have complete the 5 wave sequence and a Top may be in place. Expecting from here market to correct the up move and expecting an ABC type correctionWave 1, 3 and 5 are motive waves and wave 2 and 4 are corrective waves. As it can been seen from the chart motive waves have a five-wave structure, while corrective waves have a three-wave structure or a variation thereof. This gives us confidence that th…
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Daytrader21 4 juillet

USDCAD is heaving hard time to break above telling us that the supply is coming in the market each attempt to break higher is quickly sold of. The longer we are going to stay in this range zone the higher will be the magnitude of the breakdown, an imminent breakdown is near so based on all this signs I still remain bearish

Skif avatar
Skif 5 juillet

can't keep above 1.05 go down to at least 1.0277

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Daytrader21 13 juillet

As predicted price indeed formed a swing high around 1.0600 after the recent sell of although we already hit my target at 1.0330 I'm expecting price to retest the broken support at 1.0470 and then to have another sell of and retest again the 1.0330 level

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Daytrader21 29 juillet

Since my last update we indeed retest the broken support around 1.0440(30 pips away from what I predicted) and continue the downward movement going below 1.0330. The momentum is fading away and it seems the market has found support at around 1.0260 which coincide with the 5th wave of current down leg so this suggest that we may see a rally in the coming days. We are still in cards for hitting my target.

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Daytrader21 30 juillet

Last update: As I've said it yesterday market indeed rallied today from 1.02600 support zone, we have one more day to go and we are just 30 pips away from my target. Again my market analysis was very precisely and the market reacted based on the Elliot wave count.

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