TECHNICALS:
0.7030-0.7065 Area is good for selling with a strong level in around 0.7055/0.7065. Also we have the 76.4 retracement.
USD beaten up badly recently. DXY in an important area 0.9145-.9177.
FUNDAMENTALS:
Market has priced out negative rates. Seasonally NZD strong end nov/dec. Fundamentals NOT favouring NZD short
Mean reversion trade
Starting my short 0.7032 adding in around 0.7065 stops above 0.7090
0.7030-0.7065 Area is good for selling with a strong level in around 0.7055/0.7065. Also we have the 76.4 retracement.
USD beaten up badly recently. DXY in an important area 0.9145-.9177.
FUNDAMENTALS:
Market has priced out negative rates. Seasonally NZD strong end nov/dec. Fundamentals NOT favouring NZD short
Mean reversion trade
Starting my short 0.7032 adding in around 0.7065 stops above 0.7090
Trade active
"Losing is the key to trading, winning is easy"