The Fundamentals still favor the NZD over the AUD,
- GDP Growth: (AUD 0.5% / NZD: 2.0%) is higher in NEW Zealand which is better for the NZD.
- Inflation: (AUD: 7.8% / NZD: 3.6%) is hotter in Australia than New Zealand.
- Unemployment: (AUD: 3.5% / NZD: 3.4%) is lower in New Zealand which is better.
- Interest Rates: (AUD: 3.60% / NZD: 4.25%) is higher in New Zealand which is good for the NZD.
Sentiment:
-COT Report: shows /75.2%/ of the institutional open contracts are long on the NZD, while /34.7%/ are long on the AUD.
This favors the NZD over the AUD.
- Retail Sentiment: 71% of retail traders are short, which is another good factor, because most of the time the crowd are on the wrong side of the move.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.5/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe !
- GDP Growth: (AUD 0.5% / NZD: 2.0%) is higher in NEW Zealand which is better for the NZD.
- Inflation: (AUD: 7.8% / NZD: 3.6%) is hotter in Australia than New Zealand.
- Unemployment: (AUD: 3.5% / NZD: 3.4%) is lower in New Zealand which is better.
- Interest Rates: (AUD: 3.60% / NZD: 4.25%) is higher in New Zealand which is good for the NZD.
Sentiment:
-COT Report: shows /75.2%/ of the institutional open contracts are long on the NZD, while /34.7%/ are long on the AUD.
This favors the NZD over the AUD.
- Retail Sentiment: 71% of retail traders are short, which is another good factor, because most of the time the crowd are on the wrong side of the move.
Technical:
The Price is in a good and healthy downtrend, made a retracement to the /0.5/ fib zone which is a resistance level as well. This gives a good risk to reward ratio.
Trade Safe !
הערה:
The resistance level worked as it should be. I expect the price to make a pullback on Monday next week, then continue lower.
הערה:
I moved the stop loss to the entry point.
עסקה סגורה: היעד הושג
