RBNZ expands QE program NZd reacts !! but be patient ...
Hey everyone so ,
Please see yesterdays post about Fibs , we got 60 pips off this on the way down , and now we see its trickled all the way back down to the T/L support off the back of QE news . Remember this is fresh news todays and the NZD is feeling the effects of it but T/L support is holding up on the first test .
In my opinion im gonna wait and see how it responds for now on this level , then I will be aiming to go long , WHY ? because its not really surprise news. The world is feeling the effects of the corona virus so all economies will feel the pinch, and at some point RBNZ news becomes old and the charts take over again ...
Hope this helps .
Happy trading from Cabot ..... :)
Please see yesterdays post about Fibs , we got 60 pips off this on the way down , and now we see its trickled all the way back down to the T/L support off the back of QE news . Remember this is fresh news todays and the NZD is feeling the effects of it but T/L support is holding up on the first test .
In my opinion im gonna wait and see how it responds for now on this level , then I will be aiming to go long , WHY ? because its not really surprise news. The world is feeling the effects of the corona virus so all economies will feel the pinch, and at some point RBNZ news becomes old and the charts take over again ...
Hope this helps .
Happy trading from Cabot ..... :)