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 October was reported at -NZ$1,295M monthly and at -NZ$5,786M 12-month year-to-date. Economists predicted a figure of -NZ$850M and of -NZ$5,121M. Forex traders can compare this to the New Zealand Trade Balance for September which was reported at -NZ$1,560M monthly and at -NZ$5,188M 12-month year-to-date. Exports for October were reported at NZ$4.86B and Imports were reported at NZ$6.15B. Economists predicted a figure of NZ$4.88B and of NZ$5.74B. Forex traders can compare this to Exports for September which were reported at NZ$4.33B and to Imports which were reported at NZ$5.89B.
Here are the key factors to keep in mind today for US Dollar trades:
- US House Price Index: The US House Price Index for September is predicted to increase by 0.4% monthly. Forex traders can compare this to US House Price Index for August which increased by 0.3% monthly.
- US S&P/Case-Shiller Composite 20: The US S&P/Case-Shiller Composite 20 for September is predicted to increase by 0.20% monthly and by 5.30% annualized. Forex traders can compare this to the US S&P/Case-Shiller Composite 20 for August which increased by 0.09% monthly and by 5.49% annualized.
- US Consumer Confidence: US Consumer Confidence for November is predicted at 135.9. Forex traders can compare this to US Consumer Confidence for October which was reported at 137.9.
Should price action for the NZDUSD remain inside the or breakdown below the 0.6755 to 0.6815 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6780
- Take Profit Zone: 0.6465 – 0.6515
- Stop Loss Level: 0.6830
Should price action for the NZDUSD breakout above 0.6815 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6830
- Take Profit Zone: 0.6920 – 0.6970
- Stop Loss Level: 0.6780
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
