NZD/CHFShort
NZDCHF Lower
Trying NZDCHF lower here.
We could get a potential break lower in this triangle that's been developing.
Overall the trade idea makes sense i believe, NZD has not benefitted from a hawkish hike from the RBNZ and i believe this is because of the recent weak data from the US. I've been seeing a lot of people concerned about a potential recession coming to the US and this could be feeding back to worries of a potential global recession. NZD will not benefit from this kind of environment as they have been very hawkish and so would likely see a strong downturn in the economy if this is the case. CHF should benefit from it's safe haven status as well. I also think stocks are too high, eventually bad news in economic data is bad news for stocks and i think we are getting close now. A fall in risk sentiment should mean a fall in NZDCHF.
We are going against the usual seasonals of a strong month for risky assets so take this with a pint of salt.
If we go back above the triangle then the idea is likely wrong short term.
Not trading/investment advise, feedback welcome!
We could get a potential break lower in this triangle that's been developing.
Overall the trade idea makes sense i believe, NZD has not benefitted from a hawkish hike from the RBNZ and i believe this is because of the recent weak data from the US. I've been seeing a lot of people concerned about a potential recession coming to the US and this could be feeding back to worries of a potential global recession. NZD will not benefit from this kind of environment as they have been very hawkish and so would likely see a strong downturn in the economy if this is the case. CHF should benefit from it's safe haven status as well. I also think stocks are too high, eventually bad news in economic data is bad news for stocks and i think we are getting close now. A fall in risk sentiment should mean a fall in NZDCHF.
We are going against the usual seasonals of a strong month for risky assets so take this with a pint of salt.
If we go back above the triangle then the idea is likely wrong short term.
Not trading/investment advise, feedback welcome!
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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.
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.