Rocketman
Short

NZDUSD:Weakness & Strength Economic-Fundamental Analysis

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
251 3 10
On Sunday, NZD's trade balance came out and it was the pits! And NZD's milk prices came in terrible! YES! Bad for them, good for us!

I was waiting for an opportunity to short it. I shorted it twice upon US strength in the news, but it did not budge. It was hard to trade for two months because the USD data was mixed and NZD data contradicted its weakness. Sheesh.

Now, we have a scenario where the USD data could be potentially strong this week. All of us investors are hoping that it will be strong.

Fundamentals:
Looking for strength in the USD's GDP; otherwise, that will scared us investors into thinking the FED will not do anything. some will close our positions. We want the FED to raise rates in December, like the FED seems to promise.
Please see notes on EURUSD             trade.

No further news is coming out for New Zealand this week. Its fundamental trajectory is bearish . So, we are good! We JUST need USD data to stay bullish this week.. Watch what Yellen says this week. Watch for her to be hawkish.

I am short now NZDUSD             with a 90 pip stop.
Comment: Watch Yellen Live: https://www.c-span.org/video/?415888-1/federal-reserve-chair-janet-yellen-testifies-oversight-operations&live
Comment: https://i.gyazo.com/149b3b1563b1ef32b056c5b2d622345f.png
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Comment: Above is the monthly target. A smaller target has been reached:
Trade closed: target reached:
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Trade closed: target reached
Comment: I am taking a break....closed all positions. Feels great!
Comment: Looks like the ball has started to roll toward my quarterly target. It us re-evaluated for January - March 2017 if things continue the way they are, and given that the US Dollar continues to rally this quarter, according to my premise:
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http://www.myfxbook.com/members/ThePipBarbarian/millionairefx/
Hey mister rocket. Thanks for this setup. I combined your information with Anil's, and I got this little entry moments before the breakout:
https://gyazo.com/85e4d4e1981a2e84376f088a53d4de74

Do you think we're gonna go all the way to the bottom of the bearish channel on your initial chart on this post ?


Reply
it has retraced now after the sell off at 2pm earlier. let see tonight GDT figure and see if there is another leg down
Reply
Rocketman dchua1969
Yep, you were right! :). It was a wonderful leg dowm. We need the dollar to take off this quarter:
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