JohnKicklighter
Short

NZDUSD On a Two-Week Tear

FX:NZDUSD   New Zealand Dollar/U.S. Dollar
275 1 12
The past two-week rally from $NZDUSD is the biggest since November 2010. That is an aggressive counter-trend move that comes up light on fundamental backing. I expect it to level out and return to its dominant trend, but picking a top under momentum is a dangerous prospect. I prefer slow and considerate with establishing a shift.
I agree on fundamentals, nothing has changed. I got burned twice trying to pick the top. Going to wait and try again when (if) we cross the 200 ema on the 4h.
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