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Nzdcadshort

NZDCAD - SHORT setupHowdy everyone. NZDCAD is currently showing signs of bearish momentum, with a clear downward trajectory as it aims to develop a new low on the daily time frame. The 4-hour moving averages are currently positioned above the price action, further reinforcing the bearish sentiment. In addition, a 4-hour bearish engulfing closure has recently occurred, providing confirmation for short position. Furthermore, we are around 100 pips away from the potential daily MA of 100, which could act as a significant re-test reaction zone. Overall, the technical indicators suggest that NZDCAD may continue to face selling pressure, with the potential to push the pair to new lows. ✨
Short
by fxtraderkristina
NZDCAD - SHORT - SWING FORECASTWill be looking at short positions for this pair for the following reasons. It is approaching a point of Major resistance . It is sooo far above the Hull 250 EMA that it has to retrace (to get back to equilibrium) most likely to the previous major support level before retesting the resistance level again. This is a long-term swing for me looking forward at least 6-8 months. Once it reaches the major resistance zone, I would start looking for short positions. I would need to zoom in to get a better entry point, once price approached the major resistance zone. **This is just my trading thought process and does not constitute as financial advice. **Trading with proper risk management
Short
by MOGBEBOR