Positional Trade

New Zealand Dollar has seen a steady rise in the last few weeks, most of the NZ data released either within consensus or surprised to the upside.Kiwi (NZD) is now at a point where it looks expensive.A stronger NZD is not something the RBNZ wants but there is not much they are able to do, all there efforts of talking down the currency has had no impact, the last month rate cut actually spiked the price as more or less a 25bps cut was in line with expectation and the rally from there was predominantly because Traders realized that RBNZ didnt find it necessary to cut more than 25bps and this they even mentioned in the minutes.However at 0.7435 area NZD / USD could face resistance and also considering Risk Reward this seems to be a good place to enter your first sell on this pair for a positional trade, Weekly and Monthly charts show important Trend Line meeting at these levels along with few MAs.

As this is a long term trade , it could take weeks to play out.A stop is recommended at 0.7565 area which is around 130 pips.First target to look out for will be 0.7150 and for long term players ideal target is around 0.6950 area.Fed Sep meet could show us strong reversal to the current NZD/USD rally or could boost the existing momentum and hence a strict stop is required at all times.

Please feel free to contact me here for all your trading queries

Disclaimer :- Trading is not for the weak hearted , Trading these instruments involves high level of risk and losses can exceed capital (depending on your FX Broker).My advises should be used as a medium to learn and not as a medium to get RICH.I dont have any formula for anyone to get RICH. I shall share no responsibility for anyone's profit or losses.Once again Trading is not for everyone.

#forexkiwishortsell

Featured Posts
Posts are coming soon
Stay tuned...
Recent Posts
Archive
Search By Tags
No tags yet.
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Social Icon