Day 396: On the lookout

Profit: $2.32 Total: $1,178.54

Things were all over the place with the dollar. GBP/USD broke new lows, EUR/USD held it’s ground, and NZD/USD gained strength. It was a generally slow Monday which made me hesitant on making new trades. I’m currently on the lookout for NZD/USD because there’s a good chance the RBNZ may cut rates this week. There’s definitely going to be speculation going onto Wednesday which will be the date of the RBNZ speech.

Didn’t really get to trade much since the market wasn’t moving around. I tried to short the NZD/USD but didn’t work out too well. I really do think there will be some downward pressure through the week, and I may put on some pending short orders before I sleep. Hopefully the market will believe that the RBNZ will cut rates on Wednesday and push the NZD down.

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