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NZDUSD trade

iggy_ua Posted 8 Feb.  in #Trader's blog #Forecast #Strategy #Trade #Nzdusd
Following Fridays' NFPs, which were taken by the market with a mixed bias, I would argue for a dollar strength on Monday. The report was more positive than negative, which will boost dollar rebound after last week's slide. Technically USD crosses are overbought and should find selling on a profit taking in an absence of the major economic releases in the next few days.
I will sell NZDUSD and GBPUSD. GBPUSD was described in a previous post. NZDUSD produced a strong rally after a strong unemployme…
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NZDUSD trade setup

iggy_ua Posted 2 Feb.  in #Trader's blog #Forecast #Nzdusd #Trade Plan
NZDUSD is fighting back against short fiercely. It lacks a momentum to continue a move down. RBNZ clearly advocates for NZD weakness. The reaction on RBA statement by AUD was neutral as expected. In many cases traders fade out such announcements which can happen to AUD today. This will drag NZD into a freefall. The chart of NZDUSD shows a sideways movement in the recent days. The currency pair needs to breakout strongly above 0.655 to create an upside bias. With the spikes on H4 charts and a ret…
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NZDUSD forecast

iggy_ua Posted 28 Jan.  in #Trader's blog #Fundamental #Forecast #Nzdusd
Two risk events on USD and NZD are behind. Highly awaited news did not bring any new touches to the big picture. Fed is playing the same game as in 2015 by postponing rate hikes. NZD kept the rates leaving the room for further monetary policy accommodation. With this said I would expect a return of risk appetite and a rebound of NZDUSD. This might be prompted by bottoming out of oil prices, at least in the short run.
For the trading strategy I would buy NZDUSD at the current level with SL at yes…
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NZD destiny

iggy_ua Posted 23 Jan.  in #Trader's blog #Forecast #Nzdusd #Trade Stategy
Long-term situation in the market supports NZD shorts. The RBNZ monetary policy meeting on Wednesday (27 Jan) is important to define the near-term destimy of the currency. The Q4 CPI came in much weaker than expected. Quarterly CPI fell by 0.5% (-0.2% expected), with annual CPI being 0.1%, which is far lower than the central bank’s forecast of 0.4% and well below the RBNZ’s 1-3% inflation target.
Slowing global growth and a further drop in oil prices hints that the Bank will maintain its easing …
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