Today I can see a trading opportunity for NZDUSD. Previous week was quite difficult for US economy, and we saw economy drop (and some profitable trades, follow me for such ideas right on time). The last months US equity and currency are inversely correlated and DXY itself becomes stronger. So, fundamentals are ok.
From the technical side we have closed below the trend line, which is quite strong signal to sell for me. That's why I am entering short, but protecting it with small SL. Doing so I get acceptable TP/SL ratio and insure myself from powerful bulls sentiments. If the position will progress and pair will close below weekly MA 200, I would open one more for more profit. If not, I would watch ahead for longs. This market is very intresting now, and I don't want to leave it out.
From the technical side we have closed below the trend line, which is quite strong signal to sell for me. That's why I am entering short, but protecting it with small SL. Doing so I get acceptable TP/SL ratio and insure myself from powerful bulls sentiments. If the position will progress and pair will close below weekly MA 200, I would open one more for more profit. If not, I would watch ahead for longs. This market is very intresting now, and I don't want to leave it out.
