TheBearTrader1

NZDCAD- Shorting opportunities coming up.

Short
OANDA:NZDCAD   NZD/CAD
We can see price has fallen out of this ascending Trendline, confirming a lower low, we also saw this head and shoulders formation which has been highlighted which caused price to plummet down. I would not be surprised if we got a deeper retracement into the 71.8 fib level where the neckline of the head and shoulders was formed, also the 50 fib level looks like a place with a nice confluence of the 50 EMA, therefore we could enter a trade there today if we get a retracement deep enough.
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