Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades mostly the Asian Market.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

 

Overview

Today’s RBNZ caught the market off guard with the 0.5% rate cut today. But they didn’t stop there. They also signaled they may need to go to negative rates down the track. That’s a huge negative and it should have sellers lining up back towards 0.6500.

Current Technicals: Down

Daily Resistance: 0.6487

NZDUSD HOURLY CHART – Current Price 0.6435

Current Fundamentals: Down

Central Bank Sentiment: Down

Geopolitical Impact: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 0.6487 with a target towards 0.6350.

Execution

This is now a technical trade so I’ll be using Trendline Trader to execute the order.

Entry level: 0.6475 (Pending Limit Sell order)

Stop Loss: Above 0.6500

Take Profit: Towards 0.6350

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