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ridethepig

Buying Commodity Currencies vs JPY ... the Fade Deal

Long
New Zealand Dollar / Japanese Yen (FOREXCOM:NZDJPY)  
ridethepig Updated   
FOREXCOM:NZDJPY   New Zealand Dollar / Japanese Yen
Trend Analysis Beyond Technical Analysis Wave Analysis NZDJPY NZD jpy rbnz boj tradedeal uschina trump XI
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trendanalysis beyondta waveanalysis nzdjpy nzd jpy rbnz boj tradedeal uschina trump xi
I am fading the Tweet yesterday as a US-China trade deal is around the corner. I expect the final summit to come in late May. A trade deal will be enough to support the recovery in China and Europe. From a markets perspective, the deal is now mostly priced into Equities giving a very typical “trade the rumour” and “fade the fact” opportunity. Whilst on the FX board, a deal will support commodity currencies notably AUD, NZD, CAD and NOK.


Comment:
Risk prevailing creates a difficult environment for longs ...this had to be used in combination with the AUDNZD hedge

Using AUDNZD as a strategic hedge (intraday flows)
Trade closed: stop reached:
Stops hit here... no surprises to be honest after we lost the 73 quarter overnight.

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