NZDUSD a good Short Setup
The Fundamentals favors the USD over the NZD:
- GDP Growth: (NZD: -0.6% / USD: 2.6%)
- Inflation: (NZD: 7.2% / USD: 6.4%)
- Unemployment: (NZD: 3.4% / USD: 3.5%)
- Interest Rates: (GBP: 4.75% / USD: 5.00%)
Sentiment:
-COT Report: shows /68.4%/ of the institutional open contracts are long on the USD, while /30.3%/ are long on the NZD.
This favors the USD over the NZD.
- Retail Sentiment: 83% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.681/ fib zone which is a resistance level as well, it couldn't break it, and broke the retracement trend line.
Trade Safe!
- GDP Growth: (NZD: -0.6% / USD: 2.6%)
- Inflation: (NZD: 7.2% / USD: 6.4%)
- Unemployment: (NZD: 3.4% / USD: 3.5%)
- Interest Rates: (GBP: 4.75% / USD: 5.00%)
Sentiment:
-COT Report: shows /68.4%/ of the institutional open contracts are long on the USD, while /30.3%/ are long on the NZD.
This favors the USD over the NZD.
- Retail Sentiment: 83% of retail traders are Long.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.681/ fib zone which is a resistance level as well, it couldn't break it, and broke the retracement trend line.
Trade Safe!
Komen:
The price hit the Stop loss .. I'm still bearish on this NZDUSD and looking for another short entry