Friday, May 13, 2011

5/13 Forex

One new breakout among the 124 currency pairs I follow.

sym phase adx bday blevel stop atr atr%
NZD/ZAR  
26
may12 R5.4785 R5.4061 0.0724 1.3%

Short-term interest rates in South Africa are about double those in New Zealand, so the NZD/ZAR has a significant short bias on the carry trade rate. A bull position would require a net debit of interest.

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