Short Order NZD/CAD @ 0.9040

FX:NZDCAD   New Zealand Dollar/Canadian Dollar
9 0 1
I entered short the NZD against the CAD 0.9050 with a stop at 0.9080 and a target at 0.8880.


The CAD remains supported with the WTI rising to highs of $38. Canada has also seen some strong data which will likely keep it supported going into this weeks rate statement. On the other hand, the Kiwi has seen some poor flow of data released which will likely cause the RBNZ to either cut rates or more likely remain dovish in their statement this week. With both currencies being correlated with commodities any down turn shouldn't impact either currency against the other too much.


The pair found some buying pressure around 0.8900 this will be the first target for taking profits.


Wednesday is the key day with both central banks setting interest rates followed by rate statements.


Any shock rate settings against expectations.
Comment: Trade opened and closed when TP was hit after RBNZ rate cut @ 0.8886
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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