NZDUSD

Similarly to the Swiss Franc in the other direction. Too many people are net short on this already. 73% of retail at the time of writing. Asset Managers are 68% Long so we will wait for data tonight.

Leveraged money has started to move short. But still favoring long.

The interesting date for the cycle is Monday. So a couple of days after that would make some sense. But expect the rise to move a little more before a short entry.


Disclaimer
This idea does not constitute as financial advice. It is for educational purposes only, our principle trader has over 20 years’ experience in stocks, ETF’s and Forex. Hence each trade setup might have different hold times, entry or exit conditions and will vary from the post/idea shared here. You can use the information from this post to make your own trading plan for the instrument discussed. Trading carries a risk; a high percentage of retail traders lose money. Please keep this in mind when entering any trade. Stay safe.

Comment:

Comment:

we have had the drop, now the retest - don't be surprised if it pokes above the zone first.