NZDUSD Fundamental Analysis – October 23rd 2019
Here is the key factor to keep in mind today for New Zealand Dollar trades:
New Zealand Trade Balance: The New Zealand Trade Balance for September was reported at -NZ$1,242M monthly and at -NZ$5,210M 12-month year-to-date. Economists predicted a figure of -NZ$1,375M and of -NZ$5,254M. Forex traders can compare this to the New Zealand Trade Balance for August which was reported at NZ$1,565M monthly and at -NZ$5,484M 12-month year-to-date. Exports for September were reported at NZ$4.47B and Imports were reported at NZ$5.71B. Economists predicted a figure of NZ$4.30B and of NZ$5.70B. Forex traders can compare this to Exports for August which were reported at NZ$4.13B and to Imports which were reported at NZ$5.69B.
Here is the key factor to keep in mind today for US Dollar trades:
US House Price Index: The US House Price Index for August is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Index for July which increased by 0.4% monthly.
Should price action for the NZDUSD remain inside the or breakout above the 0.6385 to 0.6415 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6400
Take Profit Zone: 0.6565 – 0.6615
Stop Loss Level: 0.6355
Should price action for the NZDUSD breakdown below 0.6385 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6355
Take Profit Zone: 0.6200 – 0.6240
Stop Loss Level: 0.6385
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New Zealand Trade Balance: The New Zealand Trade Balance for September was reported at -NZ$1,242M monthly and at -NZ$5,210M 12-month year-to-date. Economists predicted a figure of -NZ$1,375M and of -NZ$5,254M. Forex traders can compare this to the New Zealand Trade Balance for August which was reported at NZ$1,565M monthly and at -NZ$5,484M 12-month year-to-date. Exports for September were reported at NZ$4.47B and Imports were reported at NZ$5.71B. Economists predicted a figure of NZ$4.30B and of NZ$5.70B. Forex traders can compare this to Exports for August which were reported at NZ$4.13B and to Imports which were reported at NZ$5.69B.
Here is the key factor to keep in mind today for US Dollar trades:
US House Price Index: The US House Price Index for August is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Index for July which increased by 0.4% monthly.
Should price action for the NZDUSD remain inside the or breakout above the 0.6385 to 0.6415 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6400
Take Profit Zone: 0.6565 – 0.6615
Stop Loss Level: 0.6355
Should price action for the NZDUSD breakdown below 0.6385 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6355
Take Profit Zone: 0.6200 – 0.6240
Stop Loss Level: 0.6385
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you hedge your forex trading account properly and protect it from downside risk? Find out how to properly secure your forex investment at PaxForex where you can grow your portfolio trade-by-trade!