Daniel.B
Short

Trading at Support. Monitor for a break or bounce.

FX:EURNZD   Euro / New Zealand Dollar
79 3 3
Hello Traders, the title explains it all.

I'm monitoring the pair for a break lower below outlined support. The short target on a break lower below support is also outlined at 1.4444. If the pair trades back up to outlined resistance than it offers an opportunity to sell short if you are not already in a position. Do note I have provided swap rates for every 10 lot position. As you can see going long is not attractive at all, the short end is much more attractive with a positive carry on the swap adding additional alpha to the position.

When I'm entering odd pairs I definitely keep an eye on the swap rates that are credited / debited from my account. If the swap carry is considerable I do take that into account on whether I prefer a long or short position. Trade smart, and with a plan. =) Cheers.

Interest Rates:

ECB: 0% Rate / Last Change: Mar 10, 2016 / Next Meeting: Dec 8 2016

RBNZ: 2% Rate / Last Change: Aug 10, 2016 / Next Meeting: Nov 10, 2016

Long / Short Swaps for every 10 Lot:
-Long Swap Rate: Negative Carry -14.40
-Short Swap Rate: Positive Carry +6.85
it is crossing the bottom line in the bollinger bands, on the daily
Reply
Daniel.B tiago.gritter
Hi Tiago,

Thanks for the comments! =)

Yea it very well can go to 1.54 before going down.
Reply
I think it is going to 1.54 first before going down
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