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fxtraderkristina
Mar 21, 2023 1:31 PM

📌 Potential SELL setup for: NZD/CAD 

New Zealand Dollar/Canadian DollarFXCM

Description

👩🏽‍💻Technical: Monthly price action is stuck between two MAs, trending inside a weekly channel, and trying to break the daily lower channel trend. A similar scenario is happening on the 4-hour chart, suggesting some bearish bias in the market.

🎯 For an ideal entry: My suggestions would be to exercise patience and wait until the price has successfully broken through both the channel and daily moving average. Otherwise, there is a chance that the price may rebound upwards.

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