Forex Setup Review: AUD/USD and NZD/USD

The Aussie and the Kiwi just never looked back! After making strong breakdowns, AUD/USD and NZD/USD carried on with their dives with barely any pullbacks. Take a look at these trade plans that I had:

Short AUD/USD: Trend Changing?

Short NZD/USD: Heading to .8400

At least I got the direction right, huh? Such a bummer I wasn’t able to hop in any short trades on these shallow retracements.

AUD/USD 4-hour Forex Chart

AUD/USD 4-hour Forex Chart

AUD/USD made a pullback alright, but it didn’t reach my entry area around the .9350 minor psychological resistance and broken trend line support. As for NZD/USD…

NZD/USD 4-hour Forex Chart

NZD/USD 4-hour Forex Chart

Well, the Kiwi didn’t seem interested in a retest at all! In retrospect, I probably should’ve also considered shorting on the break of that previous low, but I just wasn’t feeling aggressive at that time.

As I mentioned in this week’s Comdoll Trading Kit, there are hardly any major reports from New Zealand and Canada so I think I’ll be focusing on trading the Australian dollar instead. After all, Australia’s got its retail sales and RBA statement today!

Got any ideas on how I can play AUD pairs?

Happy time

Other Popular Articles:

What is the STA strategy? Q1 2014 in Review Comdoll Trading Kit NZD/USD Trade