CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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29.07.202113:04 Forex Analysis & Reviews: Trading idea for NZD/CAD

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

NZD / CAD has lost 6,000 pips and is currently trading near yearly lows.

Exchange Rates 29.07.2021 analysis

Considering this, bullish traders could build up limit orders below 0.860-0.855 in order to provoke a strong rebound.

Exchange Rates 29.07.2021 analysis

Breaking through 0.86 means that the pair has dropped by 7,000 pips. As soon as the decrease hits 8,000, NZD / CAD will inevitably bounce back. In this case, traders should set up buy orders every 500 pips, with a volume of no more than 0.01 standard lot for each $ 1000 deposit. Such will most likely lead to a movement of around 3,000 pips.

This idea follows the "Grid Trading" strategy.

Good luck!

Andrey Shevchenko
Analytical expert of InstaForex
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.02% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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