NZD/CAD Daily Price Forecast – 10th March 2025

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Trade Summary:

NZDCAD
Buy Stop @ N0.82190
TP @ 0.82397
SL @ 0.81822

Detailed Analysis of NZD/CAD (H4 Chart)

Key Levels and Trade Setup

• Buy-Stop Entry: 0.82190

  • A buy-stop order is placed at this level, indicating a bullish bias. The price is expected to break above this level to confirm upward momentum.

• Take Profit (TP): 0.82397

  • The take-profit level is set slightly above the buy-stop entry, suggesting a short-term bullish target. This level aligns with a resistance zone.

• Stop Loss (SL): 0.81822

  • The stop-loss is placed below the buy-stop entry, providing a risk buffer in case the price reverses. This level is near a support zone, ensuring a favorable risk-reward ratio.

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Momentum Analysis

• Momentum Power: 0.00028275

  • The momentum indicator shows a low value, suggesting that the market is currently consolidating or lacks strong directional movement. However, the setup anticipates a breakout.

• Candlestick Confirmation:

  • The chart indicates that momentum confirms the trade, but candlestick confirmation is awaited. This implies that traders should look for bullish candlestick patterns (e.g., bullish engulfing or pin bars) near the buy-stop level before entering the trade.

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Technical Indicators

• Moving Averages:

  • The chart shows multiple moving averages (likely 50, 100, and 200-period MAs).

    • The price is trading above the shorter-term moving averages, indicating a potential bullish trend.

    • The upward slope of the moving averages supports the bullish bias.

• Support and Resistance Levels:

  • Support: 0.81822 (SL level)

    • This level acts as a key support zone, protecting against downside risks.

  • Resistance: 0.82397 (TP level)

    • This level aligns with a previous resistance zone, where price may face selling pressure.

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Market Context

• Price Action:

  • The price is consolidating near the buy-stop level, indicating indecision in the market. A breakout above 0.82190 would confirm bullish momentum.

  • The recent bullish candles suggest buyers are gaining control, but confirmation is needed.

• Round Levels:

  • The price is close to the round level of 0.82200, which often acts as a psychological barrier. A break above this level could attract more buyers.

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Trade Plan

• Entry:

  • Wait for a bullish candlestick confirmation near the buy-stop level (0.82190).

  • Ensure momentum aligns with the breakout.

• Risk Management:

  • Maintain the stop-loss at 0.81822 to limit downside risk.

  • The risk-reward ratio is favorable, with a small downside risk compared to the potential upside.

• Profit Target:

  • Take profit at 0.82397, as this level aligns with resistance and may trigger selling pressure.

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Conclusion

The NZD/CAD H4 chart shows a bullish setup with a buy-stop at 0.82190, targeting 0.82397. Momentum is currently weak, but a breakout above the buy-stop level could confirm bullish momentum. Traders should wait for candlestick confirmation before entering the trade and manage risk with the stop-loss at 0.81822. The trade offers a favorable risk-reward ratio, making it a viable short-term opportunity.

Recommended Lot Size

Trading is all about statistics.

While we can experience winning streaks, we can also suffer from losing streaks.

As such, we should always size each trade to withstand losing streaks (if any).

It's widely recommended that you should not risk more than 2% of your capital for each trade.

We believe it's easier to control your lot size by limiting your lot sizing to 0.01 for every $500 in your account.

So if you have $5000, then risk no more than 0.10 lot size per trade.

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If you spot a mistake especially when it comes to the price, please use common sense and check the chart.

We wish you good luck and good profit for this trade idea.

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