Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand Trade Balance: The New Zealand Trade Balance for February was reported at NZ$217M monthly and at -NZ$3,019M 12-month year-to-date. Economists predicted a figure of -NZ$100M and of -NZ$3,225. Forex traders can compare this to the New Zealand Trade Balance for January which was reported at -NZ$655M monthly and at -NZ$3,279M 12-month year-to-date. Exports for February were reported at NZ$4.46B and Imports were reported at NZ$4.24B. Economists predicted a figure of NZ$4.56B and of NZ$4.63B. Forex traders can compare this to Exports for January which were reported at NZ$4.29B and to Imports which were reported at NZ$4.94B.
Here are the key factors to keep in mind today for US Dollar trades:
- US Chicago Fed National Activity Index: The US Chicago Fed National Activity Index for February is predicted at 0.15. Forex traders can compare this to the US Chicago Fed National Activity Index for January which was reported at 0.12.
- US Dallas Fed Manufacturing Index: The US Dallas Fed Manufacturing Index for March is predicted at 33.5. Forex traders can compare this to the US Dallas Fed Manufacturing Index for February which was reported at 37.2.
Should price action for the NZDUSD remain inside the or breakout above the 0.7260 to 0.7285 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7275
- Take Profit Zone: 0.7435 – 0.7475
- Stop Loss Level: 0.7200
Should price action for the NZDUSD breakdown below 0.7260 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7230
- Take Profit Zone: 0.7130 – 0.7155
- Stop Loss Level: 0.7275
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
