Going Short NZDCAD
I'm looking at the fact that this pair has been in what I think is a obvious support and resistance area for the most part of a year now. It did break for a short time but seems to have returned. These lines are a general area of where the support and resistance lines are in my opinion. I know there are a lot of different channels you can put on this pair. I quickly put a couple up as an example. I don't think you should ignore the trend lines, but I do think taking into account the big picture of this pair being in a large support and resistance area. This may cause this pair to go short soon even with it being in what I think is a short up trend. For this reason I'm going short on NZDCAD for a minimum of 2.5:1 trade ratio. The StochRSI is oversold as well to support this idea. Please trade at your own risk. Happy Trading.
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