NZD/USD (LONG - BUY)
Updated
NZD/USD is showing clear PRIMARY UPTREND. A Daily Resistance line was broken recently.
The monthly trend is Bearish
The weekly trend is Bearish
The Daily trend is Bullish
We are going against the general downtrend due to various other factors showing a PRIMARY UPTREND
Institutional Order Flow Areas (aka Supply & Demand):
Demand – Large amount of Institutional Buy Orders
Supply - Large amount of Institutional Sell Orders
Institutional Order Flow Areas (Demand) has been resisted 3 times which created a clear uptrend.
COT (Commitment of Traders) Report Analysis:
COT (Commitments of Traders) indicated that Non-Commercials have reduced their Short position by
2615 while only reducing their Long positions by 788, a clear indication that Non-Commercials are getting rid of their Short Positions at a much faster pace and slowly building their Long positions. Commercials have increased both Longs and Shorts with Longs completely dominating at 40,073 longs to 14256 shorts.
The COT report is IN LINE with this trading idea
Currency Strength Indication:
Monthly:
The USD is weaker than the NZD with a HIGH WEAKNESS against the NZD
Weekly:
The USD is weaker than the NZD with a VERY HIGH WEAKNESS against the NZD
The currency strength indication is IN LINE with this trading idea
Fundamental Consideration (1):
What: Fed Chair Powell Speaks (Federal Reserve Chair Jerome Powell)
When: Wednesday 17 July (05h00 NZ time)
Description: Due to deliver a speech titled "Aspects of Monetary Policy in the Post-Crisis Era" at the French G7 Presidency 2019, in Paris
Why Traders care: Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy
Impact Level: HIGH
What to do: Should you expect a negative impact on this trade, consider hedging your trade.
Fundamental Consideration (2):
What: Consumer Price Index (CPI) New Zealand. Change in the price of goods and services purchased by consumers
When: Tuesday 16 July (10h45 NZ time)
Description: This is extremely late relative to inflation data from other countries, but it's the primary gauge of consumer prices and tends to create hefty market impacts.
Why Traders care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
Impact Level: HIGH
What to do: Should you expect a negative impact on this trade, consider hedging your trade.
Retail FX Community Outlook:
Retail Community Outlook is a statistical analysis on what the market perception is under Retail Traders like you and me, this does not include Banks and big Corporate Financial Institutions.
The Retail Community Outlook for this trade is as follows:
Around 17550 positions SHORT – 78%
Around 10242 positions LONG – 22%
This trade is LONG – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
For an detailed COT analysis listen to this video:
The Retail Community Outlook report is IN LINE with this trading idea
Entry:
Immediate Entry at: 0.67260
Take Profit:
TP1: 0.68108 (move SL to TP1 once reached)
TP2: 0.69360
Stop Loss:
Stop Loss at around 0.65530
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
The monthly trend is Bearish
The weekly trend is Bearish
The Daily trend is Bullish
We are going against the general downtrend due to various other factors showing a PRIMARY UPTREND
Institutional Order Flow Areas (aka Supply & Demand):
Demand – Large amount of Institutional Buy Orders
Supply - Large amount of Institutional Sell Orders
Institutional Order Flow Areas (Demand) has been resisted 3 times which created a clear uptrend.
COT (Commitment of Traders) Report Analysis:
COT (Commitments of Traders) indicated that Non-Commercials have reduced their Short position by
2615 while only reducing their Long positions by 788, a clear indication that Non-Commercials are getting rid of their Short Positions at a much faster pace and slowly building their Long positions. Commercials have increased both Longs and Shorts with Longs completely dominating at 40,073 longs to 14256 shorts.
The COT report is IN LINE with this trading idea
Currency Strength Indication:
Monthly:
The USD is weaker than the NZD with a HIGH WEAKNESS against the NZD
Weekly:
The USD is weaker than the NZD with a VERY HIGH WEAKNESS against the NZD
The currency strength indication is IN LINE with this trading idea
Fundamental Consideration (1):
What: Fed Chair Powell Speaks (Federal Reserve Chair Jerome Powell)
When: Wednesday 17 July (05h00 NZ time)
Description: Due to deliver a speech titled "Aspects of Monetary Policy in the Post-Crisis Era" at the French G7 Presidency 2019, in Paris
Why Traders care: Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy
Impact Level: HIGH
What to do: Should you expect a negative impact on this trade, consider hedging your trade.
Fundamental Consideration (2):
What: Consumer Price Index (CPI) New Zealand. Change in the price of goods and services purchased by consumers
When: Tuesday 16 July (10h45 NZ time)
Description: This is extremely late relative to inflation data from other countries, but it's the primary gauge of consumer prices and tends to create hefty market impacts.
Why Traders care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
Impact Level: HIGH
What to do: Should you expect a negative impact on this trade, consider hedging your trade.
Retail FX Community Outlook:
Retail Community Outlook is a statistical analysis on what the market perception is under Retail Traders like you and me, this does not include Banks and big Corporate Financial Institutions.
The Retail Community Outlook for this trade is as follows:
Around 17550 positions SHORT – 78%
Around 10242 positions LONG – 22%
This trade is LONG – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
For an detailed COT analysis listen to this video:
The Retail Community Outlook report is IN LINE with this trading idea
Entry:
Immediate Entry at: 0.67260
Take Profit:
TP1: 0.68108 (move SL to TP1 once reached)
TP2: 0.69360
Stop Loss:
Stop Loss at around 0.65530
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
Note
Right on target TP 1 approaching
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