NZDCAD Short with COT Sentiment

NZDCAD

COT data suggests NZD bearish and CAD bullish sentiment. A short NZDCAD entry zone is identified by the yellow box. Position will be split with half at 0.9 and remaining at 0.9090 area. Careful entry as near bottom of monthly channel - but sentiment is favorable. Take profits at 8750 and 8630.

All published ideas are for educational and informational purposes only. Note specific entry ideas posted here may be part of a larger position and risk profile held by the author. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.