NZD/USD - Doing all the right things
I have a technical suite of indicators that I follow very systematically these days. Within my recipe the NZD/USD has been absolutely PERFECT today.
Fig 1 – NZD/USD Daily chart. Kiwi broke the 1 year consolidation triangle back on 11 Sept., rose, and has been consolidating since.
Fig 2 – Short term NZD/USD chart. Shows a perfect ‘strong GDP’ inspired outside range up hour, right out of my proprietary model. PERFECT!
Trade is to be long of NZD/USD with a stop loss at 0.8225
THIS IS AN OUTSTANDING OPPORTUNITY IN MY MIND. NZD/USD to 0.9000 anyone?……there’s this little fundamental thing going on called QE3 (QE Infinity) that might just weaken the USD.