May Trade # 8 - SELL NZD/USD

3:02 pm (Manila)

After heading south for the past 8 hours, it looks like the best this pair can do is +28 pips/lot.

Both lots are out.

1st lot - +20 pips
2nd lot - +28 pips
Total = +48 pips

Wonderful!

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6:50am (Manila)

Trade Details:

SELL NZD/USD @ 0.5938
STOP - 0.5968
Limit 1 - 0.5918
Limit 2 - 0.5898

Reason: At 6:45 am this morning (Manila), New Zealand's Retail Sales m/m came out worse than expected (-0.4% actual vs. 0.1% forecast). I expect this to weigh in on the NZD's trading today. As such, I am going SHORT.

Retail Sales is a gauge of consumer spending, which is a significant portion of GDP. Better results are bullish for a currency, worse than expected is bearish.