Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand ANZ Job Advertisements: New Zealand ANZ Job Advertisements for August increased by 3.1% monthly. Forex traders can compare this to New Zealand ANZ Job Advertisements for July which increased by 1.4% monthly.
- New Zealand ANZ Consumer Confidence: New Zealand ANZ Consumer Confidence for September increased by 2.8% monthly to 121.0. Forex traders can compare this to New Zealand ANZ Consumer Confidence for August which decreased by 0.4% monthly to 117.7.
Here are the key factors to keep in mind today for US Dollar trades:
- US CPI and Core CPI: The US CPI for August is predicted to increase by 0.1% monthly and by 1.0% annualized. Forex traders can compare this to the US CPI for July which was reported flat at 0.0% monthly and which increased by 0.8% annualized. The US Core CPI for August is predicted to increase by 0.2% monthly and by 2.2% annualized. Forex traders can compare this to the US Core CPI for July which increased by 0.1% monthly by 2.2% annualized.
- US Michigan Consumer Confidence: US Michigan Consumer Confidence for September is predicted at 90.6. Forex traders can compare this to US Michigan Consumer Confidence for August which was reported at 89.8.
Should price action for the NZDUSD remain inside the or breakdown below the 0.7275 to 0.7325 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7300
- Take Profit Zone: 0.6875 – 0.6925
- Stop Loss Level: 0.7400
Should price action for the NZDUSD breakout above 0.7325 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7350
- Take Profit Zone: 0.7475 – 0.7525
- Stop Loss Level: 0.7300
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
