NZDCAD POTENTIAL BUY OPPORTUNITY
We have a possible two-way outcome to this trade so will be interesting to see how the fundamentals affect this pair over the course of the next 24 hours.
1. Our alert is set up at price: 0.87274 and if this hits we would then look to see how the price reacts and wait for confirmation to enter a BUY position back up to its original level of resistance.
2. The price could break and fall through the alert price and continue on the downside resulting in a bearish movement. 0.86643 level is where previous rejection has happened, so this would be interesting to see depending on fundamentals whether or not a bearish breakout could happen.
BUY ALERT: 0.87274
SL: 0.86430
TP1: 0.88318
TP2: 0.88947
TP3: 0.90121
Total Pips: 284
Fundamentals:
⚜️ NZD
- Trade balance YoY: it is the difference between the value of a country's exports and imports over a period of a year. A positive trade balance means that exports exceed imports, negative means the opposite. A positive balance illustrates the high competitiveness of a country's economy. Previous result NZ$-0.12B. Currently doesn't look promising.
- Export and Import values that consist of transactions in goods and services from non-residents to residents. Looks promising as exports are higher than imports: $4.912B to $4.63B
⚠️📈Risk Management // Disclaimer 📈⚠️
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Lot Sizes:
💰 £100-£300 : 0. 01 - 0.03
💰£400 - £500 : 0.04 - 0.05
💰£1000 - £2000 : 0.1 - 0.15
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