NZD/CAD Big Trade 05.02.2016 – LIVE

Swing

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.

Economic Data Calls for 05.02.2016

Uncategorized Weekly Calendar Calls

Here’s what we are looking for in tomorrow’s economic reports (May 2, 2016) — Good Luck Trading!

1. AU PMI Manufacturing (19:30 NY Time Sunday) -- No Trade -- Manufacturing PMI difficult to predict but China showing stabilization

2. EZ PMI Revisions (3:55 NY Time) -- No Trade -- Revisions are difficult to predict but changes will be market moving

3. US ISM Manufacturing (10:00 NY Time) -- Bearish USD -- Lower Philly and Chicago points to weaker US ISM