My view of NZDUSD. Potential short opportunity.
After a smaller pullback from the current price (0.71071), I would enter at around 0.71249. We should see immediate moves to the downside. BUT! New Zeland’s GDP q/q report release may cause some bullish movement, as the economy is expected to grow 16.4% per annum in the second quarter. If it does not break the downtrend structure, we should see moves to the downside. Target expected to be hit in 25 days based on the previous movement it has made (this is only a speculation).
PARAMETERS
- Entry: 0.71249
- SL: 0.71962
- TP 1: 0.68125
- TP 2: 0.67137
KEY NOTES
- Apr-Sep LH (lower highs) and (lower lows) on D1. We are in a downtrend.
- New Zeland’s GDP q/q report release on 16th of September 2021.
- Short confirmed if GDP q/q report release does not break the downtrend structure.
Enjoy the rest of your weekend and happy trading.
After a smaller pullback from the current price (0.71071), I would enter at around 0.71249. We should see immediate moves to the downside. BUT! New Zeland’s GDP q/q report release may cause some bullish movement, as the economy is expected to grow 16.4% per annum in the second quarter. If it does not break the downtrend structure, we should see moves to the downside. Target expected to be hit in 25 days based on the previous movement it has made (this is only a speculation).
PARAMETERS
- Entry: 0.71249
- SL: 0.71962
- TP 1: 0.68125
- TP 2: 0.67137
KEY NOTES
- Apr-Sep LH (lower highs) and (lower lows) on D1. We are in a downtrend.
- New Zeland’s GDP q/q report release on 16th of September 2021.
- Short confirmed if GDP q/q report release does not break the downtrend structure.
Enjoy the rest of your weekend and happy trading.
Trade active:
Position was opened at 9AM CET.