As the fundamental situation is changing I am looking to join the new up trend building.
RBNZ last year was rising rate and now they are thinking to cut, on the other hand RBA after the last cut is becoming more neutral.
Technically this cross has made a new higher high coming from an all time low, at the moment it looks too stretched and in need of a technical retracement.
At the end of the retracement I'll be a buyer.
I'll try to buy as low as possible to be able to place my stop loss below the all time low and keep my R:R higher than 1:1
RBNZ last year was rising rate and now they are thinking to cut, on the other hand RBA after the last cut is becoming more neutral.
Technically this cross has made a new higher high coming from an all time low, at the moment it looks too stretched and in need of a technical retracement.
At the end of the retracement I'll be a buyer.
I'll try to buy as low as possible to be able to place my stop loss below the all time low and keep my R:R higher than 1:1