Disliked{quote} good stuff, but it seems that before going lower it must go around 1.356 !?Ignored
EURNZD is getting ripe for long hedge, last time I did it at 1.60 when NZDUSD around 80c EURUSD at ~1.37 actually went up 600 pips!? but I took 120 pips never traded it before didn't want to get caught out in it's volatility whatever my forecast was...
Kiwi sitting at 83c, got a bit of movement either side, but trading shorts to 80c, I have done this for a while and it works, usually wait for 85c but so be it, big account I can add a few smaller trades underwater wait for 0.858 for bigger trade, if it happens, if it doesn't well mini lots many profit.
Not betting on 90c or something ridiculous, NZDUSD bias is short for the time being. I will look to long EURNZD and possibly add more to EURGBP. I need something to hedge EUR shorts. Nothing moves in favour forever, but I be positive saying that nothing moves against you forever.
Need to remember market will do whatever it wants, and when its trending nobody can stop it!
I do believe 1.38 turned at 61.8 nicely, was reading a lot and magic did happen, could be pullback at this stage. Better have good news US
EURUSD well, is actually sitting below 50.0 fib now. implies nothing I wait for weekly close because NFP will overcome any move this week and hence overcome any analysis of any levels around market price...
On a side note, 1 more semester of university classes, doing risk management (options, futures, hedging strategies) next year which will be good.. Just wish my broker would support derivative trading - and actually reply to my emails.
Anyway good luck guys, hoping NZD news is good, will enter a short at the top of the spike in 2 hours
Even the worst trade can close with profit. Just give it time.