GBP/NZD buy. Interest Rate in UK - fundamental analysis + technical information
Today we buy positions on GBP / NZD. In line with the previous post and my expectations, the FED bankers confirmed no changes in fiscal policy. As a result, I go shopping and purchase currencies that have depreciated after Yellen's suggestion to raise interest rates.
The 0.10 lot position ultimately I want to have 0.30-0.40. Nevertheless, I leave myself a margin of error to average around the key demand zone at the price of 1.92390.
Technically, after the sell-off, there was a price compression after a slight upward move. The averages have so far cut in a way that suggests consolidation. Nevertheless, it is a good buying opportunity for me. We are currently at the price of breaking from the horizontal trend, which lasted from April 26 to about May 2.
The price, tightly compressed in a narrow range, will break sooner or later. If someone is afraid to buy in this place, you can set two orders, above and below the compression. You can also apply averaging at the price I have provided and now enter a smaller order.
Today we are still waiting for the Bank's decision on interest rates in the UK. So it's worth being careful :)
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.