This is another trading idea comes out from my weekend chart scan. NZDUSD is another short pattern, that is targeting 0.560-ish, 0.5570-ish, and 0.5520-ish as 3 targets. These offer 1:2, 1:3, 1:4 R/R. We have official cash rate and RBNZ rate statement released this coming Thursday, so watch out.
I can be very wrong again, as always. However, it all depends on your trade and risk management skill. I am not going into that again. I wrote a related post Accuracy vs Risk reward ratio.
Here is the…. CHART! Let’s see how it works out.
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