NZDCAD SHORT BIAS
NZDCAD is looking kind of interesting right now, we have price back and chopping in the upside of the downtrend channel with a clear double top outlook where have not traded since Dec 2019..
Things looks more interesting on the weekly chart with a kind of tweezers top formed off the last 2 weeks candle, which can be considered a reversal pattern.
If we take this as top down analysis, we will see a chopping price on the 4H chart, i will like to see a break and retest of the chopping zone support for more down side, to pick a short around 0.8700 and target the next zone level at 0.8580 zone as Take Profit.
Things looks more interesting on the weekly chart with a kind of tweezers top formed off the last 2 weeks candle, which can be considered a reversal pattern.
If we take this as top down analysis, we will see a chopping price on the 4H chart, i will like to see a break and retest of the chopping zone support for more down side, to pick a short around 0.8700 and target the next zone level at 0.8580 zone as Take Profit.
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