Technical Analysis/Trade Ideas

NZD/USD: Trade idea

     This one is from StochMan who is a professional technical analyst, working for one of the major news services.

Look for an hourly close below previous support at .8240. Place trailing stops back above .8295 with a target at .8105. Depending on the exact entry level, that’s an approximate risk-reward ratio of 65/125.

Not for me thanks, I don’t trade the Kiwi.

  1. Sean,
    How is your day?Forget abt the sick kiwi and talk about the aussie. where are the orders stacked now. I thought we are going to 1.03 looking at the friday close. I was again wrong.

  2. All quiet Nachiket, trying to figure out if there is any major move underway anywhere but haven’t had any success there either. Still small short AUD/USD and will run through the RBA as my average is excellent but if it doesn’t fall tomorrow then I’m out. The s/t moves are impossible to pick. Very tough markets at moment imho

  3. The most trickiest move was on friday after nfp 20 pips up 60 pips down after that. americans sold the heck out of it and it was heading lower till this damm retail sales has spoiled the f***ing downside.

  4. Another thing I noticed is RBA rarely surpises in Dec. The surprise months are usually May and Nov looking at the past history. So I am still going in with a rate cut tomorrow. I also think this week’s unemployment numbers would be next to horrible for the aussie

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