How to trade USD after the rate call? NZDUSD example
Updated
Last night the FED raised their interest rate by 75 basis points.
When interest rates go up, the currency should strengthen right? However looking at NZDUSD from a technical standpoint the market was oversold. Therefore the market has no place to go but up!
Now the market it overbought and it is time to sell it again at 0.6260. There is nice consolidation and divergence happening now.
45 pip stop loss and targeting 90 pips.
When interest rates go up, the currency should strengthen right? However looking at NZDUSD from a technical standpoint the market was oversold. Therefore the market has no place to go but up!
Now the market it overbought and it is time to sell it again at 0.6260. There is nice consolidation and divergence happening now.
45 pip stop loss and targeting 90 pips.
Trade closed: target reached
Took NZDCHF instead which was a wise idea.29/07/22 DEAL NZD/CHF Mini converted at 1.437272595066905 SD SD72.73
Funds: SD12,006.07
Hit 20% in 3.5 months!
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