AUDNZD has an A1 Trade Setup for my trading.
Actualizado
Let's Start with the Fundamentals:
The Fundamentals really favor the NZD over the AUD,
- GDP Growth: (AUD 0.5% / NZD: 2.0%) is higher in NEW Zealand which is better for the NZD.
- Inflation: (AUD: 7.8% / NZD: 3.6%) is hotter in Australia than New Zealand.
- Unemployment: (AUD: 3.5% / NZD: 3.4%) is lower in New Zealand which is better.
- Interest Rates: (AUD: 3.35% / NZD: 4.25%) is higher in New Zealand which is good for the NZD.
Sentiment:
-COT Report: shows /75.2%/ of the institutional open contracts are long on the NZD, while /34.7%/ are long on the AUD.
This favors the NZD over the AUD.
- Retail Sentiment: 54% of retail traders are short. which is not the best setup here.
Technical:
The Price is is in down trend, made a retracement to the /0.618/ level which is a resistance level as well. This gives a good risk to reward ratio.
The Fundamentals really favor the NZD over the AUD,
- GDP Growth: (AUD 0.5% / NZD: 2.0%) is higher in NEW Zealand which is better for the NZD.
- Inflation: (AUD: 7.8% / NZD: 3.6%) is hotter in Australia than New Zealand.
- Unemployment: (AUD: 3.5% / NZD: 3.4%) is lower in New Zealand which is better.
- Interest Rates: (AUD: 3.35% / NZD: 4.25%) is higher in New Zealand which is good for the NZD.
Sentiment:
-COT Report: shows /75.2%/ of the institutional open contracts are long on the NZD, while /34.7%/ are long on the AUD.
This favors the NZD over the AUD.
- Retail Sentiment: 54% of retail traders are short. which is not the best setup here.
Technical:
The Price is is in down trend, made a retracement to the /0.618/ level which is a resistance level as well. This gives a good risk to reward ratio.
Nota
Now the retail sentiment is /78%/ long. It is always better to trade against the retail crowd because more than /90%/ of retail traders lose money, they are most of the time in the wrong side of a move.Operación cerrada: objetivo alcanzado
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