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  • NZD/USD Vulnerable to Decline in New Zealand Employment

    From cityindex.com

    NZD/USD trades near the monthly high (0.5985) as it retraces the decline from the start of the week, but New Zealand’s Employment report may drag on the exchange rate as the update is anticipated to show another decline in job growth. Keep in mind, NZD/USD cleared the May low (0.5875) last month to push the Relative Strength Index (RSI) into oversold territory for the first time in 2024, with the exchange rate now failing to defend the April low (0.5852) as it registers a fresh yearly low (0.5850). In turn, NZD/USD may continue to give back the recovery from the 2023 low (0.5774) even though the Reserve Bank of New ... (full story)

Wise to short NZDUSD ahead of employment data?
First of all, if you have to ask that question, maybe that's a good indication that you're not ready to trade on your own , so it's best to not make a trade before the news... Second, you need to familiar yourself with the golden rule of trading... "The one with the gold, makes the rule", so unless you have an unlimited amount of cash that if you make a move, it'll move the market... I would not try to front running the market... Hope that helps! Happy hunting
Quoting WorldsApart
Wise to short NZDUSD ahead of employment data?
not necessarily
Quoting hotaggie98
First of all, if you have to ask that question, maybe that's a good indication that you're not ready to trade on your own , so it's best to not make a trade before the news... Second, you need to familiar yourself with the golden rule of trading... "The one with the gold, makes the rule", so unless you have an unlimited amount of cash that if you make a move, it'll move the market... I would not try to front running the market... Hope that helps! Happy hunting
Great explanation, thanks for the insight.
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