Attention! Posts are commentary only, NOT SPECULATION/INVESTMENT ADVICE. It’s only for education purposes, doesn’t offer to trade.
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NZDUSD – looking for a short (sell) setup.
Weekly and daily trends continue to be bearish. I believe this presents an opportunity to short. This week I posted a trade idea involving USDJPY (buy), so at the moment I’m not planning to trade NZDUSD, because I already have an USD long position. It is important to note that the daily correlation between USDJPY and NZDUSD is limited. However, I typically don’t want to have two pairs with USD long positions.