Rocketman
Short

NZDUSD Weekly Short set-up

FX:NZDUSD   New Zealand Dollar / U.S. Dollar
136 0 9
I believe that NZD's interest rates will get lower or stay the same; and the USD's rates will rise on a weekly basis. But, I won't hold overnight too often because it is too expensive for now. I will take bite-by-bite out of NZDUSD             on smaller time frames, like the daily and 4 hour charts. There will come a day when the US raises rates to 75 basis points that will offset the cost of holding a trade like this for too many nights. There are better opportunities out there for holding overnight.

I believe that resistance will hold and that there will be a move back down to 67 cents and some change.
Comment:
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Trade closed: target reached: 1hour:
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Details:
15minute:
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3minute:
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Comment: Yellen, Yellen, Yellen. Going to read and relax today!
Comment: My NZD index tell me that it is undecided of what it wants in the short-term (1 to 2 days). It could go one leg higher, piercing into more resistance. My bias is to the sell-side (with an open mind):
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NZD could be affected by the US Dollar fulfilling its cycle and hitting its natural targets according to my B-HAPy pattern:

There could be more room upward beyond my targets. Given that people are flocking to the USA (Yeah!) for safety (into US bonds and treasuries), I think that, next week, if the sentiment continues, then the dollar and gold will keep on rising.

Waiting on the NZD index to give a clearer sign.
Comment:
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Comment: Monthly direction of my own calculated TWI New Zealand Currency:
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Comment: That was monthly direction. Here is the daily direction for this currency:
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