Short EURNZD - Overextended post EUR Bad Data
Aggiornato
I re-assess the EUR pairs heading into the Spain data release by benchmarking what the Retail Sentiment was relative to what the market was expecting and my conclusion is EURNZD is the one that is most overextended relative to the fundamental of the pair. It has been the best performer during Asia session and ever extend gain after bad data during UK session and I think it should be losing steam now.
Timing wise I intend to hold this until end of today, betting it will reverse course during US session. I do have the Short EURUSD on though so for risk management purpose, I'd only bet 1/2 the usual size here.
Timing wise I intend to hold this until end of today, betting it will reverse course during US session. I do have the Short EURUSD on though so for risk management purpose, I'd only bet 1/2 the usual size here.
Nota
What a bloodbath. I really should not even thought about putting on another EUR trade..it certainly looks like a revenge trade now.
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