NZDCAD will go BEARISH
Our candles are approaching the ZONE, meaning we are currently on a bearish trend which is predicted to hit our TAKE PROFIT. Currently, because we have just moved from bullish trend from our daily chart, we still have our 200 EMA and 100 EMA indicating a buy. However, our 10 EMA, 20 SMA, and 50 EMA are indicating a sell. And as we all know, 50 EMA or 50 SMA are used in determining the trend of a chart. So, since 50 EMA and 50 SMA are telling us we are on a bearish market, then we have to place our entries in a sell position.
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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.