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SwingAndPip
Oct 21, 2014 6:31 AM

Risk-On vs Risk Off Short

New Zealand Dollar/U.S. DollarFXCM

Description

Good opportunity to get short again if you were late to the NZDUSD short back in July and September off the break of that neckline. A good drawback to USD sentiment is causing investors to buy high yielding currencies. As far as technicals go I think it would be safe to say the pin bar on resistance and a retest would saturate the possibility of a turn lower with a stop above the 50-day SMA least to say this pair is going to be running into a lot of resistance.
Comments
SwingAndPip
After seeing positive US news this morning I lowered my entry to 80 lowering my stop to 811
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