Profit: $3.43 Total: $1,181.61
Finally! The markets was in line with fundamentals and everything makes sense now. The bulls finally had their way with the dollar and the NZD dropped after a weird knee jerk reaction. I feel like NZD/USD short is still valid since the RBNZ stated they will further cut rates this year. Yesterday’s price action was messy and questionable, however, everything corrected itself today.
My shorts were mostly made up with long USD/JPY and short NZD/USD. All week I was trying to long the dollar but failed miserably which made me very caution on my longs today. I feel like the bullish momentum for the dollar should continue through the week and hopefully I can catch some pips. It made 0 sense for the NZD/USD to rally so hard after a rate hike and after a dovish guidance. Glad to see things back in order.
Check out this fake out by the NZD/USD in start of NY session followed by an intimidate crash.