NZDUSD: As Scary As It Looks
Actualizado
As scary as it looks; its about time to short and ride this down.
This is the last trade of the month. Next week, I will be traveling, but posting charts along the way in this journal.
This is the last trade of the month. Next week, I will be traveling, but posting charts along the way in this journal.
Operación activa
Fully Loaded on NZDUSD now. Time for mission control to resume its flight down. I am diversified in other currencies should this trade not work out. I won't lose too much.Nota
Nota
Holding on to the short:Operación activa
Added to my short position from a higher level. I believe that the New Zealand central bank will lower rates:Nota
Wednesday at 5pm New York time is the central bank decision that I will been watching.Nota
In addition to this added position, I have placed another limit order around 0.7170. My mini-target is 0.7000 by August 10th.- 13th, and 0.68 or 0.67 by September 2016.Nota
NZ Rate Cute:What to look for:
(1) Dovish Tone and a Rate Cut
(2) Hint from the central bank of further easing and further cuts. The New Zealand central bank could not do it before for fear of fueling and already housing bubble. A strong NZD would hurt demand and knock down tradable goods inflation. Thus, a decline in the New Zealand dollars necessary to keep the economy afloat.
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