NZDUSD 0.65580 + 0.36 % LONG IDEA * STRUCTURE & TREND ANALYSIS
Good Day Everyone
Here's my idea on the NZDUSD pair that has been trading in a descending channel hitting HL & LL respecting structure, the pair was just rejected at the base of structure currently rallying up with the bulls respecting the channel looking for a continuation of this move with the bulls.
the pair is currently trading in a ascending triangle on the 4H chart looking for a break above of this structure to trigger the trade..
FXSTREETS -
Since the OCR drop , NZD/USD failes to correlate to its current interest rates and is operating at -83%. This is day 2 since the drop and NZD/USD as well as all NZD pairs must correlate to its interest rates. This is mandatory as an exchange rate cannot trade correctly in markets without a positive correlation to its interest rates. This means means NZD must adjust.
As stated many times, an interest rate change by a central bank takes 5 days to normalize. We're on day 2 and 3 days to go.
www.fxstreet.com/ana...usd-cad-202008240946
let's see how it goes.
HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
TP 1 - 0.65850
TP 2 - 0.66169
SL - 0.65292
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Here's my idea on the NZDUSD pair that has been trading in a descending channel hitting HL & LL respecting structure, the pair was just rejected at the base of structure currently rallying up with the bulls respecting the channel looking for a continuation of this move with the bulls.
the pair is currently trading in a ascending triangle on the 4H chart looking for a break above of this structure to trigger the trade..
FXSTREETS -
Since the OCR drop , NZD/USD failes to correlate to its current interest rates and is operating at -83%. This is day 2 since the drop and NZD/USD as well as all NZD pairs must correlate to its interest rates. This is mandatory as an exchange rate cannot trade correctly in markets without a positive correlation to its interest rates. This means means NZD must adjust.
As stated many times, an interest rate change by a central bank takes 5 days to normalize. We're on day 2 and 3 days to go.
www.fxstreet.com/ana...usd-cad-202008240946
let's see how it goes.
HAPPY TRADING EVERYONE
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
TP 1 - 0.65850
TP 2 - 0.66169
SL - 0.65292
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Trade closed: stop reached:
🔴
