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Long AUD/NZD
Sunday August 8th 9:36 PM PDT
As mentioned last week, I will begin to call out any trades the I presently take. Below is a quote from my weekly letter to clients:
"The cross is now off the lows and showing signs of moving higher. Ordinarily this type of a technical back-drop would simply indicate waiting patiently for another opportunity to short the pair. However, with data out of Australia recently showing solid growth, and with China continuing to slow down economically, a rate hike this week by the RBNZ will likely have a negative impact on the New Zealand economy going forward.
Go long at current levels (109.60) with a stop loss at 108.50."
Dave Floyd
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Dave Floyd
Aspen Trading Group
www.aspentrading.com
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