NZDUSD a good Short Setup
Updated
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: 83% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.681/ fib zone which is a resistance level as well, it couldn't break it, and broke the retracement trend line.
Trade Safe!
- 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: 83% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.681/ fib zone which is a resistance level as well, it couldn't break it, and broke the retracement trend line.
Trade Safe!
Note
The price hit the Stop loss .. I'm still bearish on this NZDUSD and looking for another short entry
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