If you want to trade this week, I’d keep an eye open on the NZDUSD

Hey, hope you had a great and peaceful weekend, because this week you are going to have to think clear about market movements.

This week it’s full of fundamental announcements, we could see some major movements, especially on the second half of the week.

These are a few of the most important fundamental announcements:

Tuesday:
AUD interest rate & statement

Wednesday:
CAD interest rate & statement
AUD employment rate

Thursday:
GBP interest rate & statement
EUR interest rate & statement

Friday:
USD Non-farm payrolls
CAD employment rate

If you are not a fundamentally driven trader (as I am), you noticed that there are no important announcements for the NZD this week…

And what’s better is that, in the long term charts it was clearly rejected from an important long term resistance level, which means that we should be looking for short opportunities.

Now, here is the hourly chart:

As long as the NZDUS D trades below 0.8040 I’ll be looking for short opportunities.

What do you think? Would you look for short opportunities this week on the NZDUSD?

Please comment.

Cheers,

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .