A Perfect Entry on AUDNZD
Updated
Last month I got two good short trade on AUDNZD, and now I see another good short entry.
The Fundamentals still favor the NZD over the AUD,
- GDP Growth: (AUD 0.5% / NZD: -0.6%)
- Inflation: (AUD: 7.8% / NZD: 7.2%)
- Unemployment: (AUD: 3.5% / NZD: 3.4%)
- Interest Rates: (AUD: 3.60% / NZD: 5.25%)
Inflation, unemployment and interest rate are better in New Zealand.
Sentiment:
-COT Report: shows /37.1%/ of the institutional open contracts are long on the NZD, while /35.6%/ are long on the AUD.
- Retail Sentiment: 56% of retail traders are short.
Technical:
The Price is in a good and healthy downtrend, broke a ranging zone and made a retracement to the /0.5/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe !
The Fundamentals still favor the NZD over the AUD,
- GDP Growth: (AUD 0.5% / NZD: -0.6%)
- Inflation: (AUD: 7.8% / NZD: 7.2%)
- Unemployment: (AUD: 3.5% / NZD: 3.4%)
- Interest Rates: (AUD: 3.60% / NZD: 5.25%)
Inflation, unemployment and interest rate are better in New Zealand.
Sentiment:
-COT Report: shows /37.1%/ of the institutional open contracts are long on the NZD, while /35.6%/ are long on the AUD.
- Retail Sentiment: 56% of retail traders are short.
Technical:
The Price is in a good and healthy downtrend, broke a ranging zone and made a retracement to the /0.5/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe !
Trade closed: stop reached
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