BombayBulls
Long

NZD/USD - Is Long feasible?

FX_IDC:NZDUSD   NEW ZEALAND DOLLAR / US DOLLAR
11 1 0
Strong dairy auction might put a base here around 0.6550. Prices hasn't been collapsing and that's a good sign. Good risk rewards argues for a tiny long here expecting the retest of next resistance at 0.6640. Let's see how it develops and next few sessions will be interesting in defining the next good move.
UPDATE ( 8/19/2015 12:10 pm ) : Our first take profit target got filled overnight at 0.6595. Now thinking to get rid of the position at 0.6600 because overnight price action wasn't encouraging with price slumping back even with good news of Russia taking off the ban on NZ dairy products.
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