NZD USD BUYBreak and restest of the 50 EMA
Bounce off the pivot point
Bullish Engulfing
Upcoming news in NZ of consumer confidence could be a good boost or if negative could move the trade against us.
risk/ reward 1:2
Stop below 50EMA and Pivot point. TP just before R1 but will need to trade through some previous resistance level at .70800
risk .5%
Let me know your thoughts?
Nzdlong
Short EURNZDNot much fundamental reason to short this pair this morning but the technical set up gives us a good risk reward ratio and an opportunity to take advantage of the candle stick pattern and the declining trend line on the daily chart. The engulfing patttern shows sellers coming into the market as the price rejects the declining trendline trading it down to the previous support gives over a 3:1 risk reward. Lets see what happens. Join me this morning for the FREE webinar on what I am trading this morning and a look into the possibilities for the Non Farm Payrole. webinar.getresponse.com