Can I now add the NZD to the CAD on the list of currencies I should avoid? I’m still short NZD and I have been in-the-money on this one for about 11 minutes and out of the money for 11 days. I could fool myself into thinking that I have by-passed other good trading opportunities but I really have little or no feel at the moment for any intraday moves and that tends to leave me lacking in confidence and my trading suffers accordingly. The life of a trader, eh?
The fall in USD/JPY was interesting and suggests to me that those trying to buy JPY crosses might be in for a nasty surprise. EUR/GBP continues to inch higher and I expect this trend to continue. The AUD and NZD are ridiculously well bid and I hope more than think that this trend will change soon. I’ll be getting out of my NZD/USD at .6840 and the one piece of good news was that it stalled again at .6820, which was the spike high after the NFP last week.
Good luck today.