It's actually more to do with technicals associated with the S&P500. If S&P closes below 880 tonight we should see USD break to the upside finally, there's pretty strong resistance though so I'm not holding my breath. If it doesn't happen tonight, it will almost certainly happen next week........
Where to with the NZDUSD with the recent announcements - a push towards 70c or a possible dip to 55c by the end of the year like some commentators are saying?
Anyones guess with the market flip-flopping every week. At least it makes for great trading! Got short Kiwi again at 65 c after making a few pips on the way up.
Big trends are the thing to ride Adam , if you can identify them early enough.
here's where i reckon kiwi may reverse.
Very interesting that US dollar appears to be breaking to the downside which probably hints at a new high for equities.
looks like kiwi breaking to the upside in the final wave higher.
looking for a top around 69.
down trend line has been broken,a retest of this line may be an opportunity for a long entry.
Hey Dumdass, tell us when you will go short the Kiwi, I may follow you.
I am planning for the kiwi to hit the top and go for a long dated short position.
Last edited by Dr_Who; 22-07-2009 at 10:14 AM.
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hey dr i am happy to share my thoughts.
im guessing you are setting up for a long term trade from the short side rather than a straddle trade going long and short .
Hey Dumdass, tell us when you will go short the Kiwi, I may follow you.
I am planning for the kiwi to hit the top and go for a long dated short position.
hey dr , some candlestick patterns printing on the daily that may suggest the recent rally is starting to falter.
the red lines on the chart are possible prices to watch, for a reversal.
69 area has a fib cluster which i feel will provide significant upside resistance.
this seems a logical area to enter short if price reacts from this area .
i cant guarantee its the big move lower but could provide a profitible short BUT you need to watch the reaction at this level before pulling the trigger.
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Originally Posted by dumbass
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