NZDUSD potential short opportunity
Technically, there is a potential for a bounce off of the cloud or a rotation out of it if price re-enters the cloud. Look for signs of reversal (note the red arrows highlighting previous cloud rotations).
Fundamentally, right now we have pressure on dairy prices (www.globaldairytrade.../en/product-results/), pressure on commodities, and China concerns that could help propel the kiwi lower.
This is currently a trade idea and not a signal with an entry, stop, and target. Exercise patience, watch price action, and be aware of the current market environment. Note that there will be economic data from China at 0200 GMT on January 19.
Fundamentally, right now we have pressure on dairy prices (www.globaldairytrade.../en/product-results/), pressure on commodities, and China concerns that could help propel the kiwi lower.
This is currently a trade idea and not a signal with an entry, stop, and target. Exercise patience, watch price action, and be aware of the current market environment. Note that there will be economic data from China at 0200 GMT on January 19.
Comment:
Note also that the Global Dairy Trade Price Index is scheduled to be released at 15:00 GMT on January 19.