What would a reasonable spread be for this pair?
I was following a trade the other day and the spread jumped from 9.2 to 11.5 for half an hour or so. This coincided with a point on the chart where I had my stop and others probably did too. The price went passed my stop by only 2-3 pips therefore I may have got away with it using a different broker. The price then went on to hit what was my TP.
Why don’t you trade like this Long EUR/USD, Short NZD/USD (Meaning Long EUR/NZD)
OR short EUR/USD, Long NZD/USD (Meaning Short EUR/NZD).
This alternative solutions will save you at least 2-3 pips because long or short EUR/USD Cost(1.2 pips), long or short NZD/USD will cost 3-4 pips.
Hope save you some $.
Regards,
:60:
that’s interesting, I presume I would have to interpret a good setup (from EURNZD) on EURUSD and EURNZD instead. I can see this working well for longer term setups but short term setups could be tricky.
I am not sure for the broker, but about an year ago I got a bonus. I found a good deal on AUDNZD, just after I took it I saw the spread was 60.0, looked at the broker’s terms and conditions and once again it was declared to be 60.0. From that moment I realized that majors give more than enough oportunities to trade :))))))))) Anyway I think that 12 pips spread is normal for that pair, especially if you are on ECN. For NZD it should matter the time zone - if Aussie and New Zealand markets are open spread should be lower.
Does anybody trades this pair often? I love this pair as there are lots of opportunities and its one of the hidden jewel which most of the people are not aware of…
But the spread is quite high so i will not suggest this pair for scalpers…
Spread for both the EUR/NZD and AUD/NZD are 4 to 4 1/2 pips with the broker I use.
What broker had a 60 pip spread listed? And are you sure it was 60 pips? Or was it maybe 60 pipettes?
Sometimes it’s easy to misread 5 digit brokers.