I’m looking for buying opportunities on NZD/USD after the FOMC statement provided no huge surprises yesterday, and although there were minor tweaks in the statement, members reiterated that highly accommodative policy will be appropriate for considerable time after asset purchase program ends.
The FOMC market reaction was relatively muted but the USD slightly weakened as the statement was not as hawkish as some had feared.
I’m looking to buy this pair if it dips down to around the 0.8500 area with a profit target of 0.8600 and a SL at 0.8450.
Overall Bias on this trade
If the price falls down to 0.8400 I will still be looking for opportunities to resume buying of this particular pair.
Upcoming Risk Events
We have no major news events today that will affect this trade however be aware that we have US NFP figures on Friday which could significantly move the market.
At no time should anyone view the information presented anywhere on this website as advice, recommendation or proven. Everything reflected is merely opinion and may not be accurate. The purpose of the site is to express the opinions and views of Jarratt Davis. There is no intention to offer specific help, advice or suggestions to anyone reading any of the content posted here.
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