After getting hit hard yesterday with my Nzd longs and losing more than half my bankroll
I decided to get back in the market with a long Nzd/Usd

After the data release yesterday - the Nz unemployment change - the market hit the Nzd too hard
The most important release was a good number, but the market already had it in for Nzd: why?

The answer lies in the technical analysis
and the fact that NZ has struggled with dairy prices lately;
the milk export is not good and coupled with the fast downward action on the charts
traders see possibilities of a lower Nzd and will stay short

I believe this will not last, though
I bought Nzd/Usd at 0.8447 and am happy with my position
The weekly/daily trendline that I posted in my blog yesterday still holds
and the upward momentum will gain strength once traders see the Nzd resilience

Bottom line: NZ economy is doing alright compared to others
and my long breath will most likely pay off

I also took a short Gbp/Nzd today
as the pair seems to struggle to break 2.0 with the Gbp weakness about
I see Gbp/Nzd at 1.96 in the near-future
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