This pair has been a consistent earner for us since mid-October. We think largely explained by relative weakness in the Aussie as opposed to much relative strength in the Kiwi. Regardless, and it really is regardless because all we do is look at the chart of the pair to understand how to trade. This is a solid trade we hold short positions in which we are confident out until well beyond the next 30 days. We seek to extract our profits today at levels between 1.051 – 1.049 and will protect our position with stop loss orders between 1.055 – 1.057. Should you enter positions intended to be held for longer periods of time, say the end of the week or longer, adjust your stops, both take profit as well as stop loss orders, appropriately. Meaning extend them further above and below those stated here which are geared for short term positioning.
We’ve Hit the Bottom, it Appears
Daily Analysis - 11/04/2018