NZDUSD is at a good support zone, and could turn up from here, following gold, which is very oversold. I'm waiting to enter long here, I'd like to see how today's bar acts, to buy into strength going forward. You shouldn't rush into gold or NZDUSD longs right away, but, should monitor how today behaves first. The negative news surrounding New Zealand serve as an extra ingredient, to give us enough bearish sentiment for a bottom in here: bloomberg.com/news/articles/2016-11-13/massive-quake-kills-two-in-new-zealand-causes-extensive-damage Live cattle and milk futures remain bullish, and gold might be about to bottom after stopping out longs and making perma-bulls give up, hopefully, very soon. If you want to learn more about the trade entry, and risk management, contact me via pm.
Good luck,
Ivan Labrie.
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Bottom of the linear regression channel hit, I'll watch today's activity and then enter. Not yet doable.
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I'm entering the long very soon, looks good for a bottom here.
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I don't like how it's acting, I'll exit my long here and reenter soon. Might go lower first.
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(was a good exit, would have hit my stop and lost 2x what I lost) Let's buy a new high today, stop under yesterday's low.
It should break out and keep going down. My opinion...trump is going to move up interest rates that is clear, by how much no one knows but it is not staying where the rates are or last month projections or rates for the next few years. So this will move NZDUSD down. My view is NZDUSD is being repriced and figuring out if it will still be used for carry or not. Why it is selling off.
IvanLabrie
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@RobbyWestHouston, hi, yes, that may be the case, mainly affected by Gold and milk's selloff now.
JRFreeze
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yup I'm on this one. Looks like a real solid bottom, particularly on the 4h chart.. Lets see how it rolls..