Trade Ideas

NZD/USD trade initiated

     We looked at this idea yesterday from The StochMan who’s a professional technical analyst with a major financial news organisation. He has gone short overnight at .8237 with a stop-loss now lowered to .8277 and a profit target at .8105.

  1. Not a bad idea but i probably would have waited for the break below 0.8230, although, the lower daily high and low following the fresh 4 week highs is not too convincing for the bulls. An hourly close above yesterdays highs appears needed to negate this guys trade so the stop is probably well placed.

  2. I am with Super K that timing is not convincing. But from different angle. In a sense NZD/USD has similar flavor to AUD/USD. AUD/USD is trying to get another push towards 1.04 region. I think both pairs are decent short candidates, but I have a feel that we might see better (higher) levels to short from.

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