Kiwi trades lower after FOMC meeting , good to sell on rallies

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
478 6 11
NZD/USD             has made a low of 0.6625 after hawkish FOMC meeting. US Fed has kept its interest rate on hold in meeting held on Oct 27-28th.

But they have increased likehood of Fed rate hike in Dec by removing previous warnings about the fragility of the global economy.

RBNZ has also interest unchanged and warned that increasing NZD will force the central bank to cut on Dec.

Technically Kiwi is facing strong resistance around 0.6755 and break above targets 0.6800/0.6830

On the downside it is facing strong support around 0.6625 and break below will drag the pair to 0.6550/0.6500.

it is good to sell on rallies around 0.6680-85 with SL around 0.6755 for the TP of 0.655I
It's amazing how things are playing out so far. Am I glad....? (smiling)
Hi Gc Naif, been a while. Did you get into this trade on the 23rd oct? I assume you have now exited ?
GcNaif DerekUweri71
@derekUweri71 , hi derek, yes i m in the trade on first attempt i was stopped out n then got in again and added some on the way
+1 Reply
Hi Gc, well done! Why did you get stopped out? And then get back in? The chart you attached above, a pattern I trade, I know you trade harmonics, would you call this is a harmonic?
GcNaif DerekUweri71
Hi derek i guess you did not click on chart . actually this idea was based on Clones. Yes i do harmonics also , i was stopped out cos i had tight SL and when i got chance i re entered. You can message me if you want.
Thanks for sharing , i m in from 0.6840 with multiple trades.
+1 Reply
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