Another swing trade for y'all! Thank me later . Last week the Auzzie tried to register a bull trend but failed by Friday.. this week hopefully we'll show a stronger Auzzie and a weaker dollar. This is bas d on the dxy index for the dollar strength. The bullish trend continues as long as the DXY stays bearish
Another swing trade for y'all! Thank me later . Last week the Auzzie tried to register a bull trend but failed by Friday.. this week hopefully we'll show a stronger Auzzie and a weaker dollar. This is bas d on the dxy index for the dollar strength
Following the downside drop of the TVC:DXY index that shows the strength of the Dollar, FX:NZDUSD has been trending to the upside.
similar to its correlated pair FX:GBPUSD . Will this hold for the long term?? let's wait and see.
my view is bulls will control the markets for the NZD/USD to the 0.6200 level.
ITS A GOOD TIME FOR A BUY ENTRY.
RISK REWARD...
Another trade to the bull territory, as shown the entry was on 24th looking forward for a take profit as shown.
Risk reward ration 3.6. not bad for the index.
With the Bank of America having posted higher than expected Q3 earnings, the US markets as represented in the major Indicies (us30,us500 and us100) showed a bull run to the upside.
short term expectation is the dollar will retest before another bull run. This explains the fall of the dollar agains the zar as analyzed here
since last week, gold seems to have retraced its weekly gains. No reasons to panic, this retrace brings yet another opportunity to the bulls.
ill be posting the exact moments to buy, for now any seller you should be looking to take profits. cut all sells and wait for the next bounce up.
@masterchartist254, signing out!!
