NZDCAD is currently in a downtrend, and we are looking to short the pair when it is at the upper trendline. This point is also the 0.618 fib retracement level so we have confluence at this area.
Looking at the weekly timeframe is also a good thing to do right now, with the increased volatility and market noise, so to eliminate that and get a clear view of what is actually going on, looking on higher timeframes is ideal.
Looking at the weekly timeframe is also a good thing to do right now, with the increased volatility and market noise, so to eliminate that and get a clear view of what is actually going on, looking on higher timeframes is ideal.