DonaldDuck
Long

Weekly Dragon Fly Doji Bear Rejection Set up.

FX:AUDNZD   Australian Dollar/New Zealand Dollar
145 1 2
The New Zealand Bank is getting ready to drop its base rate. On wednesday June 29th RBNZ's governor gave a speech accouncing that a drop in base rate is needed for stimulation of the economy. Due to low export prices for commodities and the expected foreign debt situation.

The Aussie is suffering with low iron prices and the weak Chinese stats. If Iron ore starts to recover, we should see a rally back to the 1.13 line.

I have taken a long at the close of the dragon fly candle.
DonaldDuck
2 years ago
This proved a great trade when the NZD announced no change to its rate and we rallied to the 1.13000 mark taking profit.
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