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NZD/CAD Big Trade 05.02.2016 – LIVE
NZD/CAD Trade Triggered, Set Profit Target at 0.8750
New NZD/CAD Big Trade Order
Place Order to Sell NZD/CAD at 0.8800
Stop at 0.8910
Fundamentally we’ve seen strong gains in NZD and CAD but recent economic reports show more underlying strength in the Canada vs. NZ economy. Friday’s Q1 GDP report surprised to the upside, Canadian retail sales are up, consumer prices increased and over 40k jobs were created in the month of March driving the unemployment rate down to 7.1% from 7.3%. New Zealand in contrasts battles with a wider trade deficit, weaker manufacturing and service sector activity. This is an important week for Canada. Oil prices are strong, creating the ideal conditions for a resumption of the downtrend in NZD/CAD. Technically, we’ve seen nice bounce in NZD/CAD off the,lows and NZD/CAD is one of our most successful ValueTrader currency pairs with 86.67% accuracy this year. 88 cents is also significant resistance – making it the perfect level to be faded.