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

The NZD is the diamond in the rough today with clear downside direction in the NZDUSD just as the NBNZ Business Outlook numbers are due for release. To me though the NZDJPY presents a better downside entry so that’s the pair I’ll be focusing on for the data release today.

Current Technicals: Down

Hourly Resistance: 67.45

Cloud Support: 67.13

NZDJPY HOURLY CHART – Current Price 67.23

Current Fundamentals: Down

Central Bank Sentiment: Down

Geopolitical Impact: Down

Upcoming Potential Fundamental Drivers

Trade Execution

Our Preference

Short positions below 67.10 with a target of 66.00

Execution Software

We are looking for the NBNZ Business outlook numbers to come out weaker than the forecast -44.3

Idealy ≤50.0 

With the execution I am going to use Ichimoku Cloud Trader but Guerrilla Trader could be good also.

Entry: Break of 67.00 (Pending Sell stop order)

Stop Loss: 67.30

Take Profit: Towards 66.10

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