I have been waiting for a long time for this trade to materialize and it seems my patience will pay large dividends.
As we can observe from the two bubbles, this pair has touched the 200MAV on Daily twice since the uptrend begin on February 24, 2017. YES, MORE THAN ONE YEAR AGO! The first touch was June 6, 2017 and the price bounced and rallied upward. The next touch was April 13, 2018 and once again the price bounced upward. However, after more than ONE YEAR of waiting, we finally have a strong Daily close BELOW the 200MAV. Moreover, we have market fundamentals to support this trade as well. Sluggish Eurozone growth, Brexit still up in the air, Italian politics in disarray, and now the Spaniards have thrown a wrench in gears with a snap election to destabilize an already weak Euro. To top it off, the Kiwi has been one of the weakest currencies of the past year and is now set to rally.
It's not often both Fundamentals and Technicals align for the perfect trade but this is as close to perfect as we're going to get. I'm short from 1.72308 and plan on riding this down late in to 2018 and reap the rewards of my patience.
As always, good luck in your trading and thank you for looking.
Please feel free to share to opinion/views on the pair and my analysis.
As we can observe from the two bubbles, this pair has touched the 200MAV on Daily twice since the uptrend begin on February 24, 2017. YES, MORE THAN ONE YEAR AGO! The first touch was June 6, 2017 and the price bounced and rallied upward. The next touch was April 13, 2018 and once again the price bounced upward. However, after more than ONE YEAR of waiting, we finally have a strong Daily close BELOW the 200MAV. Moreover, we have market fundamentals to support this trade as well. Sluggish Eurozone growth, Brexit still up in the air, Italian politics in disarray, and now the Spaniards have thrown a wrench in gears with a snap election to destabilize an already weak Euro. To top it off, the Kiwi has been one of the weakest currencies of the past year and is now set to rally.
It's not often both Fundamentals and Technicals align for the perfect trade but this is as close to perfect as we're going to get. I'm short from 1.72308 and plan on riding this down late in to 2018 and reap the rewards of my patience.
As always, good luck in your trading and thank you for looking.
Please feel free to share to opinion/views on the pair and my analysis.
Trade active:
Progressing nicely.