This is an odd trade. I am shorting two bearish currencies. Essentially, since I am swing trading, I am offsetting the interest differential cost in the NZDJPY trade, should the NZDJPY trade play out. Also, if the EUR does fall down faster than the NZD, then this too shall be a great for my sell position in the EUR currency.
Note
All my predictive analysis points to a bad German IFO Report, coming up July 25 at 4 a.m. Eastern Standard Time (New York Time).This supports my bearish position in the EUR.
Risks: New Zealand currency falls down faster than the EUR.
Comments: It would probably be better to sell the EUR currency against the Japanese Yen, since the yen is moving up.
But, I am going on a road trip...no time to position myself in something new. I'll keep all limit orders the same with targets and stops in place.
Note
Looking for a break below support on the 15 minute chart:s3.amazonaws.com/tradingview/snapshots/h/H0ZA8vvu.png
Note
...this is for a late entry..or to add to currency short position.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.