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NZD/USD Signal - Milk Prices Auction - 20 Sep 2016

Signal details
Entry Price: 
0.7330
Close Price: 
0.7314
Direction: 
High
Expiry Time: 
20:00 GMT
Result: 
OTM
How we trade
5/5 of 3 ratings

The NZD/USD pair is trending higher this morning in the anticipation of a positive milk prices auction later today, with the New Zealand dollar heavily impacted here, due to the main export of the country being milk powder (30 per cent of total exports!). Another theme on the market is the expectations that the U.S. Fed is not going to move on interest rates.

Looking at the NZD/USD chart, the pair is strongly convicted to move higher at this point in time. We are going to be looking to buy daily call options should the price moves towards the 0.7330 level. Currently prices are a full 15 pips above that and more aggressive traders can try to buy daily calls at present levels, but its a very risky play, which we consider too much for today's expiry at 20:00 GMT.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.