$NZDUSD: Good RR setup...
The Kiwi dollar presents us with a high reward to risk long setup here. Set stops below 0.68 to be safe and let it ride until it hits 0.6974 for a 50% take profit, and exit the rest of the position by the close of Jan 27th, or if price hits 0.71295 before that date. Risk 0.25% minimum, and up to 1-2% of the account in this trade, you can calculate sizing based on the distance from entry to the stop loss area of your choosing (below 0.68 to be safe), a reward to risk over 1.5-2:1 would be good. Leaving 0.5-1 ATR of buffer below support is often a good idea, so something below 0.68 fits the bill considering the daily ATR.
$AUDUSD has a setup here as well, and the weekly $DXY chart looks like we can get a move by next week, in that timeframe, together with strength in precious metals and copper gives me a good feeling regarding selling dollar weakness against commodity producing countries' currencies.
Best of luck,
Ivan Labrie.
$AUDUSD has a setup here as well, and the weekly $DXY chart looks like we can get a move by next week, in that timeframe, together with strength in precious metals and copper gives me a good feeling regarding selling dollar weakness against commodity producing countries' currencies.
Best of luck,
Ivan Labrie.
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