Live Chat

03/12/2014: Trading Idea SELL NZD/USD


Trade:    SELLING  NZD/USD

Entry:                    @ 0.7780

Target:                  0.7660 (a retest of a series the November low)

Stop:                     0.7840 (a move above a recent pivot level around 0.7835)

Reason: The downside pressure is growing as the US dollar is strengthening and a breach of the support at 0.7764  would re-open the downside.

 

Trading Update on previous trades:

I have hit my target on my EUR/USD short trade (26/11/2014). This means I have therefore locked in a profit of 173 pips. Although the euro has continued lower for a few pips initially, I am not overly upset about no longer being short. We have got Draghi’s press conference tomorrow and whilst he will try and talk the euro lower, there is also the possibility of there be a short covering rally if the market is disappointed by a lack of action. TRADE NOW CLOSED

I am short of FTSE 100 (28/11/2014) and am hanging on by the skin of my teeth on the position. A high of 6753 today was just under my 6755 stop. I expect that the volatility surrounding Osborne’s Autumn Statement today is likely to stop me out for what would be a 45 point loss.

I have been filled in my SHORT Gold trade (02/12/2014) today at $1205. The position is currently flat.


Ready to start trading?

Open an Account Try Demo

  • Archive

  • Topics

  • Videos

Research Risk Warning

At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.