Good Day,

As mentioned yesterday, I cleansed my LIVE trades to move out of NZD related pairs (except long-term hedged GBP/NZD long trade). Both AUD/NZD long and NZD/USD short trades were closed for small profits. The short NZD/USD trade had been LIVE for 28 days and whilst I had added to and taken  % profits off the table along the way in the past 28 days from its original selling price that I entered the trade on I made just 3 pips. Big whoopee!! having checked my admin, it looks like I banked $157.00 net on the trade. It was a small position all the time, but it shows just how hard it can be to make serious $$$  without going outside your RISK PARAMETERS and MONEY MANAGEMENT principles.

For information, the FUN 37 trade GBP/AUD is now hedged. By the way I am staying away from adding additionally AUD trades until after the RBNZ news and my idea for an entry on the AUD/USD  is at 0.9500.

The big news on the calendar today is the RBNZ interest rate decision, after the CAD Core Retail Sales. in the North American session.

Here is how I am going to play the NZD later today after the news breaks. It all depends on the way Wheeler plays this, the market is expecting another 0.25% rate increase and allegedly its priced-in. If he raises rates it will still spike and so I will be looking to sell into strength, if he does nothing today, I think all hell will break loose and it will be an entry on pullbacks.

<span style="text-decoration: underline;">GBP/NZD</span> - already long and hedged from 1.9800.

<span style="text-decoration: underline;">AUD/NZD</span> -  Although I exited this trade I still think that it is FUNDAMENTALLY going long and I still have 1.1350 and maybe 1.1600 in mind as targets. I think after today's news this pair will be a FUNDAMENTAL trade set-up pretty soon. Having just written that I do think we need to see 1.1000 to really get momentum moving once again. I noticed after the AUD news last night it spiked up to 1.0876 which is the 61.8% retracement. Ideally, a move back to 1.0700 to get long would be good.  If it falls , I need to think about short as FUNDAMENTALLY I am long.

<span style="text-decoration: underline;">EUR/NZD</span> - Long at 1.5400, with a stop at 1.5000 (just below) looks like a trade at the moment. But I need to see the news first.

<span style="text-decoration: underline;">NZD/USD</span> - Is a short at 52 week highs of 0.8842. Need to see the comments first. FUNDAMENTALLY, I am biased short with this pair.

Good luck today, I will tweet later....

Scott