FX:NZDUSD   New Zealand Dollar / U.S. Dollar
Had some success on this pair last week.


1) US Stimulus expected next week
2) Surging COVID cases likely to see safe haven upside (this is somewhat ironic given the US is experiencing record gains when compared with places like NZ!)
3) As per the trades last week - the pair is hovering around a mid term area of resistance - this always makes for more attractive risk to reward ratios

NB - While I am looking for shorts, I will await price action confirmation
Comment: As per my above comment we didn't enter this trade (apologies for leaving the long position on).

However we noted down 0.65890 as a potential nice entry - price is fast approaching this point - so we will be watching this closely today.
Comment: Apologies for leaving the *SHORT POSITION* on
Trade active: in for a short @ 0.65890
The move up was impulsive, we have a tight stop (SL 0.66159) in place as USD is showing weakness so far this week.

Like many pairs, this is at a point of long standing resistance on the daily so this makes for an attractive RR set up of 3:1
Trade closed: stop reached

Comments

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