Where Are Our NZD/USD and AUD/USD Signals Headed?
Skerdian Meta • 1 min read
Last week, we opened two short-term sell forex signals, one on the AUD/USD and the other on the NZD/USD. You might argue why we opened 2 signals on these 2 pairs since these 2 forex pairs are correlated positively, but they have recently lost some of their correlation, particularly after the RBA (Reserve Bank of Australia) meeting last Monday.
Anyway, we did open those signals and they still remain open today, so let´s see what´s going on with them.
Last Friday these two forex trades went through a rough time after the release of the U.S. employment and earnings report.
They jumped about 30 pips higher, getting really close to our stop loss orders, but then the market realized the U.S. numbers were not that bad, in fact, they were still positive, so these 2 trades reversed and we ended up back where we started.
Today, though, the picture seems a bit brighter. The 100-period moving average placed a lid on the upside move this morning and since then, both forex pairs have been sliding.
We´re slightly in profit with both forex signals, but the price has stalled now and economic data is pretty light today, so don´t expect fireworks, just practice your patience.
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