kiwiwalnut
Long

Make or Break for EURNZD - Double Whammy News for NZD

FX:EURNZD   Euro / New Zealand Dollar
32 0 2
We see a retest of strong structural support just below 1.6300 area - also various key Fib levels.

YoY CPI             announcement out almost first thing upon market opening. Expecting no change to YoY inflation as decrease in CPI             unlikely due to a pick up in housing market activity last 2 months - a significant over weighted element in the basket of goods measured. Dovish rhetoric in the report should be enough send price up to the pseudo trending area of 1.649xx ~ 1.648xx before retracing to 1.64 area with historical support. Wheeler being frustrated with current NZD levels 'WANTS' a free market drop in NZD ( same with the rest with a brunch a China trade heavy countries ) supports notions of dovish report.

GDT in the following day will likely be a fake out event in price action - not trend changing. Do expect swings in price.

Since I have been long since Thursday and despite RSI not breaking pass 50 - I will keep trade active let it play itself out. Should the retracement happen, I will be looking to add another long @ ~1.64xxx area pending price action.

If chart fails - will be looking to scalp a downward price movement to next key support @ 1.628xx

-Trade your plan and within your limit-
Comment: I am going to adjust TP1 to 1.6489xx - got to that level twice before hitting that trend line again...
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out