It looks like NZDUSD is building up pressure for upcoming data to be released later on today at 4:45pm New York time. The consensus is that NZD's trade balance should worsen, but according to what I see, I think that the trade balance will be better than expected. Then, what's more, looking at the 15 minute chart, I see double pressure from both bulls and the bears. I think 0.67 is a god target.
When the US data is released, it may or may not push the NZDUSD down to other levels of support to find buying opportunities. So, I will wait for the US data to come out.
The current risk/reward is good. I if it breaks then the will look for further lower entries to go long if I am awake.
When the US data is released, it may or may not push the NZDUSD down to other levels of support to find buying opportunities. So, I will wait for the US data to come out.
The current risk/reward is good. I if it breaks then the will look for further lower entries to go long if I am awake.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
