We have seen a blistering run skywards of late. I see an opportunity for a short trade that could prove to be lucrative .
Plenty of ifs and buts when we look to any cross trade and a combination of EUR strength and Kiwi weakness could drive this one much higher still. We hit the 1.7213 area again a few hours ago as seen on the chart below, making this look a tad triple top’ish when viewed on the shorter term charts . I’ve taken a small size short and I can always add if price turns down more aggressively.
This is interesting enough, yet there is more to see if we zoom out for a longer term view .
The daily chart shows that we are fast approaching the Jan 2016 level of 1.7273. This has me watching for a further push and failure. I do admit to like playing these big levels . They don’t always succeed, but they are a kind of cap-nip to this trader and I find them difficult to resist 🙂
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