Long XXXNZD

Trade is picking up steam as CAM Year S4 is broken on Dovish bank remarks.

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The original trade idea attached in this post is now 300 pips in profit. The NZ economy is not doing well due to trade wars and other factors. The surprise dovish remarks last night are the canary in the coal mine and this could last into 2020. Note the first rail backtest on this MAJOR weekly pitchfork earlier in 2017 and 2018. Now that the white ascending trendline was broken a few months ago the trade will accelerate and be guided by this fork.

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NU seasonality and AU seasonality are pretty weak in August as well. imgur.com/a/bFNVPJY

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My initial target to close the seasonal profile is 0.64000 by the first week of September.

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Also note... I had the following cyan descending line (with circles) hidden for clarity. This was really the LAST line of defense for NZDUSD and it really did try to bounce on it for a week or two. That has been officially broken now.

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Adding to short here.

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Still working its way down. New Zealand economy is struggling and they are waiving off rate hike rumors.

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EURNZD is coming into the first major resistance location an CAM Year R3 this week. Good place to lock in profit.