NZDUSD: after BNZ cut its interest rate, before FED meeting
After yesterday's interest rate cut by BNZ, there is higher probability NZDUSD will continue to go south following the major trend since July 2014. RBNZ Governor, also Graeme Wheeler comment that a recent major slowdown in China could have a negative impact on New Zealand’s economy, underlining fears over a China-led slowdown in global growth.
As for next week, there will be a FED's meeting, which many analysts have predicted that there will be an increase the interest rate. It's been a while since Fed officials say they plan to raise interest rates before the end of this year, but the events of the past few weeks appear to have pushed the balance of power at the Fed in favor of the cohort that would prefer to hold off.
*a quick short order from current bearish flag pattern to a previous long tail support, with 1:1 risk reward ratio, should be a nice good trade, :D
As for next week, there will be a FED's meeting, which many analysts have predicted that there will be an increase the interest rate. It's been a while since Fed officials say they plan to raise interest rates before the end of this year, but the events of the past few weeks appear to have pushed the balance of power at the Fed in favor of the cohort that would prefer to hold off.
*a quick short order from current bearish flag pattern to a previous long tail support, with 1:1 risk reward ratio, should be a nice good trade, :D