A great opportunity for Shorting NZDCHF
Let’s have the first trade of the week – NZDCHF Short.
Here are a few reasons that I think this is a wining trade.
First let’s look at NZD:
1) This is weighted average NZD versus other major currencies. See how it made a false breakout of the major channel and the black flag. Currently it broke the other side of the flag and retested the lower band of the flag. I expect weaker NZD which is good for our NZDCHF Short trade.
3) This is NZD bonds Yields. It dropped today by 1.72% and I expect it visits the lower band of the channel. Again signals cheaper NZD.
Now let’s look at CHF:
4) This is weighted average CHF. It is sitting at a major support and I expect a bounce as early as tomorrow as it is the first day of the month.
PM me if you would like to hear more about entry signal, SL and PT.