EURNZD Higher
I'm going to try EURNZD higher again from here.
rate differentials for the pair are moving higher, the current correlation to vix/US500 is strong and the pair hasn't yet caught up to move higher in vix and move lower in US500.
Overall ECB was middle of the road last week but still beginning to tighten and leaving room for further tightening. NZD is also dealing with some worries about a hard landing for the economy so i think for this trade idea it makes sense to pair EUR against a commodity currency like NZD who should react to risk moving lower as well as domestic economy worries.
I think this continues and risk follows overall global tightening narrative which should lead to a move higher in EURNZD and a move lower in the US500.
Nice bull flag break last week so placing a stop below the flag/double bottom makes sense.
not trading/investment advise, feedback welcome!
rate differentials for the pair are moving higher, the current correlation to vix/US500 is strong and the pair hasn't yet caught up to move higher in vix and move lower in US500.
Overall ECB was middle of the road last week but still beginning to tighten and leaving room for further tightening. NZD is also dealing with some worries about a hard landing for the economy so i think for this trade idea it makes sense to pair EUR against a commodity currency like NZD who should react to risk moving lower as well as domestic economy worries.
I think this continues and risk follows overall global tightening narrative which should lead to a move higher in EURNZD and a move lower in the US500.
Nice bull flag break last week so placing a stop below the flag/double bottom makes sense.
not trading/investment advise, feedback welcome!
Catatan
taken this out at breakeven
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.