AUDNZD Working out as Planned
Updated
If I am wrong on my NZD speculation.. then it will be a loss of $70. If I win...then, I will win three or four times that much. I like those odds!
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Tomorrow's Aussie GDP and Trade balance.... look very terrible now. I expect the negative GDT Milk Price Index NZD data to balance this negative effect in the Aussie Data. Why? Because Aussie is still good fundamentally. We dipped to recession territory. I look to today's interest rate decision in the Australian central bank for guidance. My stops may be hit, but at least I will know what to do next. Everything goes as planned, then money will be rolling in.Note
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AUDNZD has actually reached a point where I would normally take a profit, but this move has not ended yet. The rate decision is coming in about 2 hours.Note
Australia's data is behind us. I am happy with the results so far and what the central bank has said because it gives much clarity about what they like and are expecting. Now, the problem at this point is the GDT Price Index for New Zealand (globaldairytrade.info/en/product-results/) . WE DO NOT KNOW what it shall be! What will help the move in AUDNZD to go up is for the GDT price index to come out bad. I DO expect it to be not as good as before, that is why I took this trade in the long direction in the first place. This is the reason why I am still holding it. If the index comes out good, then I will be stopped out NZDUSD and the AUDNZD trade will go sour. I will lose my $35 in both trades, which is something I am prepared for.
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News from the New Zealand Herald: m.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11703875Trade active
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