NZDUSD Trading Opportunities – Forex Trading Tips

Today we are looking at NZDUSD Trading Opportunities

Trade: Placing a sell limit on NZDUSD.

Fundamental Rationale: The US is on track to raise rates this year and the RBNZ is expected to cut several more times, including in July.

Technical Rationale: 68 is a round number and matches with prior resistance from July 1.

Entry: 0.68

Target: 0.6670

Stop: 0.6960

Timeframe: Short-term

Risks: Unexpected dovish Fed language.

Current Market Sentiment:

Yesterday’s New York session was light with major pairs remaining rangebound. Euro and sterling fell slightly against the greenback. US Initial Jobless claims came in worse than expected but there was no market reaction given the frequency of this release.

Today’s Asian session has been another light one with market participants hesitant ahead of this weekend’s final deadline with Greece. Major currencies have generally tracked sideways with yen weakening as risk appetite increases on optimism regarding Greece’s submission of proposals to creditors.

Other Market Moving News:

Today’s main events are in the NY session with Canadian jobs and a speech from Fed’s Yellen. Take a look at my weekly Forex news events overview here if you want to recap those events.

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Source:: NZDUSD Trading Opportunities – Forex Trading Tips

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Jarratt Davis is the world’s ranked #2 (2008-2013) Forex Trader by Barclays FX Hedge Index, following years of mastering his art as a self employed trader Jarratt has now entered the field of education and delivers the most robust Forex education package on the market. Jarratt’s mentorship is one of the only programs on the market that is conducted by a verified professional trader. Forex Alchemy readers can get the FREE mini course where Jarratt gives away some of his secrets to success by Clicking Here... [space height="20"] [social type="facebook"][/social] [social type="twitter"][/social] [social type="google-plus"][/social] [social type="youtube"][/social]

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