Who’s up for another day of chart setups? I hope you are, because these short and long-term setups on NZD/USD and NZD/CAD are lit. Check it!
NZD/USD looks like it’s about to bounce from the .6500 major psychological handle, which is convenient because it lines up with a support level from late May.
Buying at current levels would give you a good reward-to-risk ratio especially if NZD/USD bounces back up to the .6675 range resistance.
Not feeling the love for the Kiwi? That’s alright, you can always wait for the pair to break below the .6500 MaPs and execute your best short trades in there.
Good luck and good trading this one!
What’s better than a potential support play? How about ANOTHER support setup you can sink your teeth into?
NZD/CAD just hit the .8700 major psychological level, which lines up with a previous support AND resistance level on the daily time frame.
What makes this setup more exciting is that stochastic is also flashing an oversold signal. Coincidence? Only if you want it to be!
Y’all know the drill, yo. You can buy at current levels if you want to bet on NZD/CAD shooting up to the .8900 and .9250 areas of interest.
If shorting the Kiwi is more your thing, then you could also wait for a downside breakout and maybe aim for the previous support levels closer to .8500 and .8330.
Whichever bias you’re trading, make sure you manage your risks so we still get to see you trade for another day after you take this one!