GBPNZD 1:5 SHORT - Brexit Uncertainty?
GBP WEAKNESS & UNCERTAINTY?
- With Brexit deadline approaching, and socialist Labour party calling for a 2nd referendum - Investors will be wary of their GBP holdings. Descaling positions on the pound will be a likely event in coming future, so an earlier shorting opportunity may be present here.
- GBP Quant scores showing a reading of -14, shifting from the previous -4.
NZD STRENGTH?
- IMF's report on the Australia economy showing robust and resilient nature. As New Zealand is closely associated with AUD, this encourages cashflow into NZD.
- NZD consumer spending showed positive growth, greater than expected by over 1.2% on the 24/02/2019.
- NZD Quant score shows a solid reading of positive 6. This is a slight strength on the economy but generally, consider this a neutral territory.
Technicals?
- 4 hourly engulfing patterns alongside sell zones within a semi-appropriate head and shoulders gives a potential great timing for the trade.
Trade entered already, waiting to approach an acceptable region to start scaling out. Message me if you want to understand want the quant scores to represent!
- With Brexit deadline approaching, and socialist Labour party calling for a 2nd referendum - Investors will be wary of their GBP holdings. Descaling positions on the pound will be a likely event in coming future, so an earlier shorting opportunity may be present here.
- GBP Quant scores showing a reading of -14, shifting from the previous -4.
NZD STRENGTH?
- IMF's report on the Australia economy showing robust and resilient nature. As New Zealand is closely associated with AUD, this encourages cashflow into NZD.
- NZD consumer spending showed positive growth, greater than expected by over 1.2% on the 24/02/2019.
- NZD Quant score shows a solid reading of positive 6. This is a slight strength on the economy but generally, consider this a neutral territory.
Technicals?
- 4 hourly engulfing patterns alongside sell zones within a semi-appropriate head and shoulders gives a potential great timing for the trade.
Trade entered already, waiting to approach an acceptable region to start scaling out. Message me if you want to understand want the quant scores to represent!
Comment:
NZD SCORE SHIFT to -14. This unfortunately makes this trade idea a lot more uncertain. Minimise the loss by scaling out of the position at 60% close.