NZD: Trailing stops aplenty
As we know well, the prime occupation of this particular FX market is chasing stops, so that being the case we should look for the currency with the most number of trailing stops and I think I might have found it! It’s the Kiwi!
All joking aside, trailing stops reported at regular intervals topside in NZD/USD, NZD/CAD and NZD/JPY. Unfortunately I avoid the NZD at all costs so will not be getting involved but if you are short NZD and in the money, how about booking a little profit just in case.
That’s me done for the day. US markets are partially closed today so it should stay relatively quiet overnight. Catch you tomorrow++