ridethepig | NZD Market Commentary 2019.12.18
Updated
Here we go for an active NY session ahead of an important set of macro numbers for NZ this evening. I am tracking one further leg to the downside in Dollar to end the year at 96:
This is a very powerful USD devaluation flow we are trading here and markets have been short NZD for most of the year; with these two things in mind I am expecting a squeeze into 0.66xx handle again with good or bad data this evening. We should also have a helping hand from AUD positive employment data to put the icing on the cake.
For those wanting more clarity on the macro forces in play here are the long-term DXY and NZD charts:
As usual thanks for keeping the support coming with likes, comments, questions and etc! Feel free to jump into the conversations in the comments with your views/charts.
This is a very powerful USD devaluation flow we are trading here and markets have been short NZD for most of the year; with these two things in mind I am expecting a squeeze into 0.66xx handle again with good or bad data this evening. We should also have a helping hand from AUD positive employment data to put the icing on the cake.
For those wanting more clarity on the macro forces in play here are the long-term DXY and NZD charts:
As usual thanks for keeping the support coming with likes, comments, questions and etc! Feel free to jump into the conversations in the comments with your views/charts.
Trade active
Note
A very simple technical break with NZD$ running back into the 0.66xx handleTrade closed: target reached
Finally... we got there before Christmas and New Year!Note
Boom!!Note
What a break here, we exploded to the topside and demolished our opponent. Really well done all those holding.
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