📌 Potential SELL setup for: NZD/CAD
👩🏽💻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.
🎯 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.