We have a GBPUSD
long trade active (refer related ideas below) and we might have a short NZDUSD
trade in the coming week. Just going through the composite pair GBPNZD
, we feel that we can have the benefit of both the trades with trading this pair. GBPNZD
long means buying GBP and selling NZD. So best of both the worlds and USD eliminated. But this trade technically becomes active only when we get a daily close above 2.0606.
Trade Type: Trend Continuation
Target: 2.0991 (near big round number 2.10)
R/R Ratio: 2