NZDCAD short Idea
On higher time-frames we have seen that this pair has been very bearish and as always we trade with the trend
Current price action has yet to form higher time frame structure, so we will look for price to reach our daily 38.2% fib level around 0.8500 or even the 61.8% around 0.86500
Ideally a swift push to the 38.2% fib level and weekly resistance followed by an engulfing candle or bearish variance would be perfect!
We will look to target toward the monthly support around 0.82500 and a second target at the -27.2% daily fib level around 0.80250
On higher time-frames we have seen that this pair has been very bearish and as always we trade with the trend
Current price action has yet to form higher time frame structure, so we will look for price to reach our daily 38.2% fib level around 0.8500 or even the 61.8% around 0.86500
Ideally a swift push to the 38.2% fib level and weekly resistance followed by an engulfing candle or bearish variance would be perfect!
We will look to target toward the monthly support around 0.82500 and a second target at the -27.2% daily fib level around 0.80250