NZDUSD Good entry for Sell trade
Updated
The first short trade I took hit the stop loss but I'm still bearish on NZDUSD
The Fundamentals favors the USD over the NZD:
- GDP Growth: (NZD: -0.6% / USD: 2.6%)
- Inflation: (NZD: 7.2% / USD: 6.4%)
- Unemployment: (NZD: 3.4% / USD: 3.5%)
- Interest Rates: (GBP: 4.75% / USD: 5.00%)
Sentiment:
-COT Report: shows /68.4%/ of the institutional open contracts are long on the USD, while /30.3%/ are long on the NZD.
This favors the USD over the NZD.
- Retail Sentiment: 81% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.5/ fib zone , and broke the retracement trend line .
Trade Safe!
The Fundamentals favors the USD over the NZD:
- GDP Growth: (NZD: -0.6% / USD: 2.6%)
- Inflation: (NZD: 7.2% / USD: 6.4%)
- Unemployment: (NZD: 3.4% / USD: 3.5%)
- Interest Rates: (GBP: 4.75% / USD: 5.00%)
Sentiment:
-COT Report: shows /68.4%/ of the institutional open contracts are long on the USD, while /30.3%/ are long on the NZD.
This favors the USD over the NZD.
- Retail Sentiment: 81% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.5/ fib zone , and broke the retracement trend line .
Trade Safe!
Trade closed: stop reached
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