Both New Zealand and Australia are experiencing a housing boom. Australia is in an early expansion territory.; however, my fundamental view for New Zealand is still not good. I believe that Australia has better prospects for an expansionary environment than New Zealand. New Zealand relies on milk prices, and the GDT index for milk keeps falling, which hurts the bottom line of their economy.
When compared tot he US dollar, it is more prudent to stick with the dollar.
The reason why the title says fully loaded is because I am loaded with multiple short positions as NZDUSD went, accumulating dollars with it.
My hope from here is that the dust settles and NZD resumes its fall. Otherwise, I will have to change my view point or revise the situation.
Need a 4 hour close to be bearish
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I think NZDUSD is bullish on the daily chart. We haven't broken that trendline up yet. I am probably on the wrong side of the market. I will take this loss. I will get stopped out if high is breached, but that is ok. Here is the bullish view.
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Alternative view supporting the bulls:
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Here are my fundamental analysis of the New Zealand Dollar in this link. The pattern in this pair was identified as a failed pattern that broke because of the news last night, sending the currency roaring; however, my fundamental direction remains the same. I will re-attack the NZDUSD pair again at the right time, technically, later.
トレード終了: ストップロスに到達
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stream
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if this looks like short ..go on
Rocketman
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No....not anymore. For a short, we need to fall down. I am wrong.
stream
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very well ... good luck
giankee
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I would watch it closely. It's got overhead resistance so we could end up with zig zag price action. You can be right and wrong. I'm looking for a potential short in the 7230 up to 7260 area. I shorted at the 7200 area the day before yesterday and got out at the 7110 area. I'm glad I did since today it just rallied back up.
Rocketman
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You are right.... I need some sleep! I am going to take a nap.