FX.co ★ Trading idea for the NZD/CAD pair

Over the past year, NZD / CAD pulled back by 12,000 pips, which is perhaps one of the largest movements in history. Each break above the monthly highs ended in long pullbacks, and today, during the press conference of the Reserve Bank of New Zealand, the pair broke above 0.92500.

Taking this into account, it will be profitable to open short positions, the strategy for which is presented below:

In the trading chart, set sell limits by around 50-100 pips. Select the volume in such a way that you can sit out the movement by 300-500 pips.

Of course, you still need to be careful to avoid losing money. Trading in this financial market is precarious, but profitable as long as the approach you use is correct.

Good luck!