Friday close of KIWI says, "TIME TO JOIN BANDWAGON"
Usually, we look for maximum 2 good set-up(Trades) in a month in either direction. Bearing risk mitigation @ 360 degree, 2 Trades/month are good enough to increase you account by 40%-50% annually.
But some times majors behaves quite differently and more setups are developed. NZDUSD's friday close is signaling deeper losses for the pair. Possible Headwinds could be Benchmark FOMC decision in mid week(wednesday).
But we anticipate that event to be more of a Tail-wind for the King Dollar rather than headwinds. Although only 2 working days before that mother of all events, Still time-margin to hit the break-even is there keeping in veiw
the last 2 days sell-off. we don't see a major level ahead where the pair may consolidate and wait for the volatility sparked by the FOMC rate decision. Bank of Canada rate decision is also on the same day, both events will occure in US time slot.
Those who are thinking about the other parallel setup may refer to our update about EURUSD. https://www.tradingview.com/chart/EURUSD/UlpS7bIj-EUR-Close-below-1-1075-will-provide-another-selling-opportunity/
But some times majors behaves quite differently and more setups are developed. NZDUSD's friday close is signaling deeper losses for the pair. Possible Headwinds could be Benchmark FOMC decision in mid week(wednesday).
But we anticipate that event to be more of a Tail-wind for the King Dollar rather than headwinds. Although only 2 working days before that mother of all events, Still time-margin to hit the break-even is there keeping in veiw
the last 2 days sell-off. we don't see a major level ahead where the pair may consolidate and wait for the volatility sparked by the FOMC rate decision. Bank of Canada rate decision is also on the same day, both events will occure in US time slot.
Those who are thinking about the other parallel setup may refer to our update about EURUSD. https://www.tradingview.com/chart/EURUSD/UlpS7bIj-EUR-Close-below-1-1075-will-provide-another-selling-opportunity/
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.