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Nzdcadforecast

NZD/CAD Short Burst PositionOANDA:NZDCAD The reward to risk ratio is almost exact. Past 5 years and max have been profitable. Past few month have been non-profitable and filled with some more downward trends or negative correlations. Past year have been bad, and past day haven't been optimal as well as past week in terms of nice results. However, I am seeing a butterfly effect with an around 3.77% yield and the potential of positive correlation for a short holding position the next few weeks, and even some swings the next few month.
Short
by gamer456148
NZD/CAD 1H Chart: Channel DownNZD/CAD 1H Chart: Channel Down The New Zealand Dollar is losing value against its Canadian counterpart in a short-term tiny descending channel began to form after a 50-pip appreciation of the Loonie last Friday. Until this point, the currency rate was confidently moving to the south, crossing all barriers on its way. Most probably, the pair will continue the fall, as it has no other obstacles on its way in the next 118 basis points range. On the other hand, there is need to remember that such narrow channel are very sensitive to fundamental events and might be broken even from the not very significant news.
by UnknownUnicorn890690