Big Trade NZD/USD 01.20.2016 +18

BK NZD/USD -- Close Trade here at 0.6446 for +18

I want to get out of this trade because I think we can sell at a higher level since we didn’t get much continuation. Therefore we are REPLACING it with ONLY the conservative trade:

Place Order to Sell NZD/USD at 0.6560

Stop at 0.6760

Reload NZD/USD Orders

Aggressive:

Place Order to SELL NZD/USD at 0.6464

Stop at 0.6664

Conservative:

Place Order to Sell NZD/USD at 0.6560

Stop at 0.6760

Between the sell-off in commodity prices and the meltdown in global equities, there’s no reasonable basis for the recovery in the New Zealand dollar. Dairy prices fell for the second time this year, CPI dropped by the largest amount since 2008, Fonterra is poised to cut its payout and the RBNZ may need to consider cutting interest rates. The double top in NZD/USD is still in place so we are reloading our NZD/USD Sell orders.

Swing

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