Trading Idea

The USD gapped Monday open invalidating a lot of our analysis from the weekend. I will be leaving these pairs for a few days until the meaning of the gap becomes more clear until then I've decided to post a trading idea for the eur/nzd cross.

We have reasons supporting a view price will breakout to the upside and to the downside. These reasons will be validated or invalidated slowly as we move to test the upper trend line and develop more structure. These reasons we are tracking slowly as price develops will lead us to our trading position. Often its the case that both positions can be taken because the opportunity that is produced from these reasons falls at different moments in time. That the reasons synchronize with reality in different moments lets both opposing perspectives be correct for some brief period of time. A period of time we're hoping to identify accurately.

Good Trading.