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.
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 . So, we are good! We JUST need USD data to stay this week.. Watch what Yellen says this week. Watch for her to be hawkish.
I am short now NZDUSD with a 90 pip stop.
Do you think we're gonna go all the way to the bottom of the bearish channel on your initial chart on this post ?