NZDUSD THE KIWI LONG ENTRY

I think the Kiwi enjoyed a second consecutive rise in milk prices (milk prices seems much solid than hard commodities like oil, the currency market is still dominated by the commodities market, and it’s dominated more by the oil market), in addition the economy in New Zealand grew by 0.9% q/q, better than expected and also positive in absolute terms. New Zealand trade balance came out a bit better than expected, and that gave some support to the Kiwi maybe?

NZDUSD is trading at the 200 day average which is first time since August 2014. Around 0.70 is where the pair found support back May. The low of 0.6940 allowed for a temporary bounce. 0.6860 was a low point as the pair dropped in June 2015.

I like easy going and hassle-free swing trade. This is for my trade journal only feel free to comment.

Trade active:

Long Entry 0.68600 SL 0.68300

Trade closed: stop reached

Trade active:

Buy Entry 0.6680 Target 0.6800

Trade closed manually