I'm watching this and I'm tempted to enter, but a) EUR very weak across the board after bad PMI and dovish ECB, b) swap is against you big.
I know that if later RBNZ will drag N down it could be a very good setup, but I don't have the "right feeling" yet.
Can somebody explain how to build position ? what is the strategy ?
the step by step for you to build your first position is detailed on the first page;
But that is not all. There is much more on the next 50 pages.
just a warning.
give your best to understand this text message
A few years back I remember in a interview Orr... or one of the other kiwi bankers stated they liked the Kiwi dollar price at .6500.
So as the Bulls try to push past .70, a dovish rate statement will not be a surprise. and if that doesn't get the results they are looking for, Orr can still neuter the bull with his speech on Thursday.
I have sell orders in place on N/U & N/C at top of the range.