Daily candle.
Long
Entry: 0.8144
Stop: 0.8053
Profit Target: 0.8260-0.8370
Trade Explanation:
Technical: It is the third time that the TL has held. Stoch is in a higher lows to lower lows hidden bullish divergence.
Fundamental: The RBNZ - Cash Rate could be much higher than anticipated, Univ of Mich Sent. could come out at lower levels. ( although have a close eye on US GDP Annualised which is supposed to be 1.8 )
They only cut their rates down when and if they see a longer term reason for now the
RBNZ could follow the aussie but forecasts on gold and chinese data is rising/keeping the NZD up for this week, since the Kiwi is pretty much export dependend I’ll have a close look on commodities too.
cheers
i love this setup. but judging from the asian session reaction, itll be a holy gift it the price reaches your entry point.
If anyone Followed this trade, then you are in a good [B]100 pips profit[/B],
It looks a bit risky to me to keep the position open, so make sure you move your S/L up to lock in some profits!
Cheers.
