Sell on a level breakthrough of 0.7280 with 0.7178 target. Stop loss = 0.7330.
Reason for the trading strategy
In April, New Zealand's trade balance amounted to 123 million with a forecast of 100 million New Zealand dollars. The data, which was slightly better than expected, did not prevent the Kiwi from falling. Strengthening of the dollar against the euro puts pressure on the NZD/USD pair.
December 7, 2016 CAD claws back ground
The Canadian dollar has finally managed to gain some ground against the strong USD after weeks of the market waiting for it to react to oil prices beginning to show some turn after the recent OPEC agreements...
December 6, 2016 Cash rates remain on hold at 1.5% as expected
Asian stock markets managed to move mostly higher, after gains in Europe and on Wall Street yesterday. The Italian MIB closed with slight losses Monday, but it seems investors quickly got over the widely expected rejection of Italy’s constitutional reform and Renzi resignation...
December 6, 2016 AUD fell on RBA statement
The Reserve Bank of Australia decide to leave its policy settings unchanged. Such a decision was widely expected. The main, cash rate was left unchanged at 1.5% as expected by every analyst surveyed by Bloomberg...
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