NZDCAD - Short Sentiments + Bearish Divergence
The NZDCAD pair is currently showing signs of a bearish divergence, indicating a potential downward movement in price. This technical analysis suggests that despite previous upward trends, the momentum is weakening, and prices might start to decline. Additionally, there is a significant bearish sentiment among traders, with 93% leaning towards short positions. This overwhelming preference for shorting suggests that the market expects the NZDCAD to decrease in value. Together, the bearish divergence and high short sentiment point towards a potential drop in the NZDCAD pair, making it a subject of interest for traders anticipating market movements.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.